SK Hynix Shatters Records with $26.5B US Nasdaq Debut
South Korean memory chip titan, SK Hynix, marked a historic day on the Nasdaq today, July 10, 2026. The company raised an astonishing $26.5 billion in its American Depositary Receipt (ADR) offering. This is the largest-ever US first-time share sale by a foreign company, even surpassing Alibaba’s record-breaking IPO.
The company sold 177.9 million ADRs at $149 each, with each ADR representing one-tenth of a Seoul-traded common share. Demand for the offering was approximately seven times the available shares, according to Reuters. This reflects the overwhelming investor enthusiasm for the AI memory sector. The stock will initially trade under the ticker symbol SKHYV, before transitioning to regular trading as SKHY starting Monday.
SK Hynix is the world’s leading producer of high-bandwidth memory (HBM) — the specialized chips that power Nvidia’s AI accelerators. The company holds an estimated 56% of the global HBM market. The company’s Seoul-listed stock has surged over 650% in the past year, elevating its market capitalization to approximately $1 trillion. This makes it South Korea’s second most valuable company, trailing only Samsung.
The proceeds from the US offering will fund manufacturing expansion. This includes a $4 billion advanced packaging facility in West Lafayette, Indiana, expected to be completed in 2028. Analysts project SK Hynix’s annual revenue to more than triple to approximately $235 billion in 2026.
Source: Yahoo Finance — Chip giant SK Hynix raises $26.5 billion in blockbuster US share offering