SK Hynix Raises Record $26.5 Billion in Largest U.S. Foreign Listing as AI Chip Demand Surges

By Blessing Nweke

South Korean memory chip giant SK Hynix has raised $26.5 billion through its landmark share offering in New York, becoming the largest-ever listing by a foreign company in the United States.

The company, a major supplier of artificial intelligence (AI) chip leader Nvidia, announced Thursday that it sold 177.9 million American depositary shares (ADS) at $149 each. The shares are expected to begin trading Friday on the Nasdaq exchange.

SK Hynix’s market value has soared amid a global boom in AI technology, surpassing $1 trillion in South Korea in May. Its share price has more than tripled this year, helping drive the country’s benchmark Kospi index up by more than 70%.

The company is one of the world’s leading producers of memory chips, a sector benefiting from massive investments in artificial intelligence infrastructure. Rival chipmakers such as Samsung Electronics and Micron have also seen their stock values rise sharply in recent months as demand for AI-related hardware grows.

Financial experts said the Nasdaq listing will give SK Hynix greater access to international investors and large pools of capital in the world’s biggest economy. Seoul National University finance professor Jaewon Choi described the offering as an important test of whether investor confidence in AI chip companies will continue.

Investor demand for the shares was reportedly more than seven times higher than the available supply, reflecting strong enthusiasm for companies positioned at the center of the AI revolution.

The listing comes as several AI-focused firms seek major funding through public markets. SpaceX’s GrokAI venture reportedly raised $85.7 billion in June, while AI developers Anthropic and OpenAI are preparing potential public offerings with valuations exceeding $1 trillion.

SK Hynix said the move will provide U.S. investors with easier access to its shares while supporting its plans to expand chip manufacturing and AI development. South Korea’s government is also expected to benefit as the company raises funds for future domestic investments.