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[BUSINESS] · South Korea, United States · 100 sources

SK Hynix’s record Nasdaq debut sparks share volatility and 2027 memory shortage warning

South Korean memory‑chip maker SK Hynix completed the largest U.S. listing by a foreign company, raising $26.5 billion and debuting its American Depositary Receipts (ADRs) on the Nasdaq at $149 each. The ADRs opened at $170, closing the first day up about 13% at $168.01, before profit‑taking and market‑wide AI‑chip sell‑offs erased the gain, with the shares later falling more than 9% in New York and 14% on the Seoul exchange.

The stock tumble coincided with a broader pullback in AI‑linked semiconductor stocks, and leveraged ETFs tied to SK Hynix also suffered sharp declines. Meanwhile, the company’s CEO Kwak Noh‑jung warned that “2027 will be the worst year in the memory industry’s history from a supply perspective,” forecasting demand outpacing capacity well beyond 2030. Analysts note that high‑bandwidth memory (HBM) used in AI accelerators remains tightly constrained, pushing up prices for laptops, smartphones and gaming consoles.

South Korean lawmakers are also moving to ease capital‑raising rules for SK Hynix, allowing joint ventures with outside investors to fund new fabs, as the firm seeks additional funding for aggressive expansion in AI‑driven memory production.

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