SK Hynix Makes History in New York, Raises $26.5 Billion Through Share Listing

International Desk: PNN

Amid the rapid global rise of artificial intelligence (AI) technology, South Korean chipmaker SK Hynix has created a new record in the US stock market. Through its listing on the Nasdaq in New York, the company raised $26.5 billion, marking the largest-ever share issuance by a foreign company in the United States.

The company said it sold 177.9 million American Depositary Shares (ADS) at a price of $149 each. On the first day of trading, strong investor interest pushed the share price up by nearly 17 percent.

SK Hynix, one of the world’s leading memory chip manufacturers, is currently a key supplier to AI chip giant Nvidia. As demand for high-performance memory chips continues to rise due to the rapid expansion of AI technology, the company’s business has also experienced significant growth.

In May this year, SK Hynix’s market value surpassed $1 trillion in the South Korean stock market. During the same period, the company’s share price increased more than threefold. The rise also contributed to gains in South Korea’s benchmark KOSPI index alongside technology giant Samsung Electronics.

Analysts believe that the Nasdaq listing will allow SK Hynix to access the world’s largest capital market and raise substantial investment more easily. It will also strengthen the company’s reputation among global investors.

According to market analysts, demand for SK Hynix shares exceeded the offered amount by more than seven times. Due to this overwhelming interest, the company was able to sell shares at a price nearly 2.9 percent higher than its South Korean market valuation, which is considered unusual for a large-scale share offering.

The company said the newly raised funds will be used to build advanced chip manufacturing facilities in South Korea, expand research and development activities and increase investment in AI technologies.

Meanwhile, the International Monetary Fund (IMF) recently said that massive global investment in AI infrastructure is helping technology-driven economies remain relatively protected from the negative effects of geopolitical instability. In that context, SK Hynix’s successful listing is being viewed as a new confidence signal for the global semiconductor industry.

Experts believe this achievement could encourage more AI-focused technology companies to enter global stock markets in the future.