SK Hynix is launching a major American listing on Nasdaq. The South Korean memory chipmaker plans to issue up to 17.79 million new shares, representing about 2.5% of its total equity. The capital raise could reach approximately $29 billion, a figure that may challenge Alibaba's 2014 record for a foreign company's U.S. offering.
The move is driven by intense investor demand for exposure to high-bandwidth memory, the specialized chip architecture essential for AI data centers. SK Hynix is the leading supplier of HBM, a product integrated into Nvidia's most advanced GPUs. U.S. investors have previously relied on less liquid over-the-counter ADRs. The sponsored Nasdaq listing is designed to provide cleaner access for index funds and large asset managers.
The company filed confidentially with the SEC in March 2026. The bookbuilding process begins July 6, with pricing expected on July 9. Trading under the prospective ticker SKHY is scheduled to start on July 10.
The capital will fund production capacity expansion, including new manufacturing equipment and factories. The listing offers U.S. investors a direct comparison to domestic AI memory plays like Micron.