South Korean memory-chip manufacturer SK Hynix is aiming to raise more than $29 billion through a listing on the U.S. stock market, according to a recent regulatory filing. The company plans to issue American depositary receipts (ADRs) on the Nasdaq exchange, with trading expected to begin July 10. SK Hynix intends to raise 45.453 trillion won, equivalent to approximately $29.65 billion, to support its expansion amid growing demand for advanced semiconductor technology driven by artificial intelligence.
If completed, the offering would rank among the largest share sales in history, comparable in size to Saudi Aramco’s 2019 initial public offering and exceeding the scale of Alibaba’s ADR offering in 2014. The move reflects SK Hynix’s strategic goal of attracting foreign investment to fund its growth in the increasingly competitive semiconductor sector.
SK Hynix is one of the world’s leading suppliers of memory chips, particularly high-bandwidth-memory products widely used in AI accelerator technologies such as those manufactured by Nvidia. The company has experienced significant growth this year, with its shares rising about 300 percent, making SK Hynix only the second South Korean firm after Samsung Electronics to surpass a $1 trillion market valuation.
The spike in demand for semiconductors, particularly for artificial-intelligence applications, has driven SK Hynix’s financial performance. In its most recent quarterly report, the company posted a fivefold increase in net profit, a surge attributed primarily to strong orders for AI-related products and infrastructure development worldwide.
The share sale will be managed by a consortium of major financial institutions, including BofA Securities, Citigroup Global Markets, Goldman Sachs, and J.P. Morgan Securities. The sizeable capital raise is expected to bolster SK Hynix’s capacity to invest in next-generation chip technology, further solidifying its position in the global semiconductor supply chain as AI continues to drive demand for advanced memory solutions.