Strong investor demand underscores confidence in the AI memory chip leader as it expands capacity.
South Korean memory chipmaker SK Hynix has raised US$26.5 billion through its US listing after pricing its American Depositary Receipts (ADRs) at US$149 each, reflecting robust investor appetite for one of the world’s leading suppliers of AI memory chips.
According to Reuters, demand for the offering exceeded the shares available by more than seven times, showcasing strong investor confidence despite recent weakness in semiconductor stocks. The ADRs will begin trading on the Nasdaq under the ticker “SKHY.”
The company said the funds will be utilized to build new factories and purchase equipment to meet rising demand for AI chips, particularly high-bandwidth memory (HBM), a key component used in advanced AI processors.
The US listing is also expected to help narrow SK Hynix‘s valuation gap with US rival Micron, which benefits from greater access to American investors despite holding a smaller share of the memory chip market.
“SK Hynix leads on share and Nvidia proximity, while Micron competes on power efficiency, US positioning and momentum from third place,” said Daniel Newman, CEO of Futurum Group.
Nvidia CEO Jensen Huang recently said SK Hynix would remain the chipmaker’s largest memory partner for the next few years as AI-driven demand continues to surpass supply. Despite a recent pullback, SK Hynix shares remain up about 680% over the past year, reflecting soaring earnings and sustained demand from AI data centre investments.
