SK Hynix, South Korea’s second-largest company by market cap, launched its Nasdaq debut Friday with a $28 billion American Depositary Share offering. The memory chipmaker’s listing marks the largest-ever first-time share sale by a foreign company, reflecting massive investor demand and the memory chip boom fueled by AI infrastructure buildout.

Institutional orders exceeded available shares more than sevenfold, signaling confidence in SK Hynix’s positioning in the AI era. The company raised nearly $29 billion, with shares beginning temporary trading Friday under ticker SKHYV and regular trading commencing Monday under SKHY.

Explosive Growth Trajectory

SK Hynix’s market cap has climbed to approximately $1 trillion after surging more than sevenfold over the past year. Annual revenue nearly tripled from 2023 to 2025, reaching about $65 billion. Analysts project revenue could exceed $235 billion in 2026 as AI demand for memory chips accelerates.

The company manufactures memory chips and high-bandwidth memory essential for AI data centers, positioning it at the center of the artificial intelligence infrastructure race. US investors now have direct access to one of the world’s most critical semiconductor manufacturers.

Market Significance

The IPO serves as a bellwether for tech sector health and investor appetite for semiconductors tied to AI. SK Hynix’s ability to raise capital at this scale suggests markets believe the memory chip demand cycle will sustain well into 2026 and beyond.

Regular trading under SKHY begins Monday, July 13, 2026.