SK Hynix Raises $26.5 Billion in Largest Foreign Company Wall Street Debut
4 verified5 unconfirmed
South Korean memory chipmaker SK Hynix opened at $170 per share in its Wall Street debut on Friday, raising $26.5 billion in what is the largest-ever initial share sale in the U.S. by a foreign company, surpassing Alibaba’s previous record. The company’s listing comes amid surging demand for memory chips driven by the artificial intelligence boom, as tech giants expand AI data centers. SK Hynix is a major supplier of high-bandwidth memory used in advanced AI chips from Nvidia, with which it recently partnered. The offering consisted of American depositary receipts priced at $149 each on Thursday before opening on the Nasdaq. The company has a dominant global position in high-bandwidth memory, essential for AI development. Demand for memory chips has outpaced supply, and SK Hynix plans to expand capacity, including building its first U.S. production facility in Indiana.
What’s verified
SK Hynix raised $26.5 billion in its Wall Street debut on Friday, making it the largest U.S. initial share sale by a foreign company.
The company opened at $170 per share on the Nasdaq.
SK Hynix is a major supplier of memory chips, particularly high-bandwidth memory, used in AI systems and is partnered with Nvidia.
The debut occurs amid surging demand for memory chips driven by artificial intelligence.
Not yet confirmed
Only one source reports that SK Hynix’s shares rose 14% in their debut.
Only one source states that SK Hynix briefly overtook Samsung as South Korea’s most valuable company after reaching a $1 trillion valuation in May.
Only one source provides global DRAM market share figures: SK Hynix 29%, Samsung 38%, Micron 22%.
Only one source reports that SK Hynix had revenue of just under $65 billion in 2025, with profits doubling to about $28 billion.
Only one source notes that SK Hynix plans to ramp up memory chip capacity over five years to address a shortage that could last until 2030.
Key figures
Chey Tae-won, chairman of SK Group (mentioned in one source)
Sources: The Verge, abcnews.com
