SK Hynix has made history with its first US share sale, raising $26.5 billion. This surpasses Alibaba's $25 billion IPO from 2014, setting a new record for a foreign company's American market debut.
The offering was priced at $149 per American Depositary Receipt on July 9. Trading began the following day on Nasdaq under the ticker SKHY. Demand was overwhelming, with the sale oversubscribed more than seven times.
The South Korean memory chipmaker is now the world's second-largest memory chip producer. Its position as a key supplier of High Bandwidth Memory (HBM) chips has driven intense investor interest. These specialized components are essential for the global expansion of AI infrastructure.
Major technology companies, including Microsoft, Google, Amazon, and Meta, are significantly increasing their AI spending. This capital flows directly to chipmakers like SK Hynix, fueling the current investment surge.