SK Hynix Targets Record $29.4B Nasdaq Listing to Propel AI Memory Surge
South Korea’s SK Hynix, the world’s premier producer of high-bandwidth memory (HBM) chips, has submitted an application for a landmark listing on the Nasdaq Global Select Market. The company aims to raise up to a staggering $29.4 billion (45.45 trillion won) via American depositary receipts (ADRs). This board-approved deal, announced on June 24, 2026, is set to be the largest ADR offering in history, surpassing Alibaba’s $21.8 billion New York debut in 2014. Trading is expected to commence on July 10, 2026.
SK Hynix’s move is strategically timed. The company has risen to become the dominant supplier of HBM — the specialized, stacked memory chips that fuel Nvidia’s AI accelerators and the world’s most sophisticated data centers. Over the past 12 months, its Seoul-traded stock has skyrocketed by approximately 850%, pushing the company’s market capitalization beyond $1 trillion and momentarily making it South Korea’s most valuable company, surpassing Samsung after a 26-year reign.
The entire proceeds from the offering are allocated for hard infrastructure development. This includes constructing a new fabrication facility in the Yongin semiconductor cluster, building an advanced HBM packaging plant in Cheongju, and acquiring extreme-ultraviolet (EUV) lithography machines — the essential tools for producing the world’s most advanced chips. SK Hynix chairman Chey Tae-won has consistently emphasized that AI-driven memory demand will maintain a tight supply until at least 2030.
Currently, the company holds approximately 57% of the global HBM market and serves as the primary memory partner for Nvidia. The Nasdaq listing offers US investors a straightforward and accessible entry point into one of AI’s most crucial supply-chain players.
Source: TechTimes — SK Hynix Confirms Nasdaq Listing, Seeking Up to $29 Billion in a Record ADR Offering