SK Hynix Shatters Records with $26.5B Nasdaq Debut
South Korean memory chip behemoth, SK Hynix, etched its name in Wall Street history on July 10, 2026. The company’s shares surged by a remarkable 13% in its Nasdaq debut, closing at a robust $168.01 per share. This followed the pricing of its American depositary receipts (ADRs) at $149 each. The listing generated a staggering $26.5 billion — the largest U.S. share sale ever by a foreign company, outstripping Alibaba’s $25 billion debut in 2014. Initially trading under the ticker SKHYV, the stock officially transitioned to SKHY on July 13, 2026.
As the world’s second-largest memory chipmaker and the premier producer of High-Bandwidth Memory (HBM) chips, SK Hynix is a force to be reckoned with. These chips are utilized in nearly every Nvidia AI processor. The company witnessed investor orders covering seven times the number of shares on offer even before the deal was priced. With approximately 56.4% of the global HBM market under its belt, SK Hynix counts Nvidia, Apple, and other tech giants among its clientele.
The company has grand plans for the proceeds. It intends to expand its colossal Yongin Semiconductor Cluster in South Korea and finance its first U.S. facility — a $4 billion advanced packaging plant in West Lafayette, Indiana. The facility is slated for completion in 2028. Chairman Chey Tae-won, in a conversation with CNBC, revealed that AI demand for memory is skyrocketing. Customers are requesting more chips even after SK Hynix committed to doubling its capacity.
Source: CNBC — SK Hynix rises 13% in Nasdaq debut