SK Hynix, the South Korean memory chipmaker, will raise $29.4 billion through a Nasdaq listing of American Depositary Receipts. Trading is set to begin July 10, 2026, with 17.79 million new shares issued.
The company is the dominant supplier of high-bandwidth memory chips-specialized DRAM that stacks layers and moves vast data through vertical channels-powering AI accelerators from Nvidia and Google’s parent Alphabet. Its stock has surged more than 300% this year, briefly making it South Korea’s most valuable company.
By creating ADRs, SK Hynix removes barriers for large U.S. institutional funds, giving pension funds, ETFs, and retail investors direct access to the AI supply chain. The funds will expand advanced HBM fabrication lines.
Micron Technology, the only major memory maker headquartered in the U.S., is its closest competitor. When SK Hynix shares trade on Nasdaq, investors can compare both on the same exchange in real time. Memory chip cycles and U.S.-China trade tensions remain risks, particularly around the company’s Chinese production facilities.