SK Hynix seeks $28 billion in US IPO listing as memory maker rides AI wave

SK Hynix (000660.KS) said it volition purpose to rise astir $28 cardinal successful a US IPO, seeking to pat into planetary investors' appetite for AI winners.

The South Korea-based representation spot shaper said that it volition connection 17.79 cardinal communal shares connected the Nasdaq, according to an SEC filing connected Monday. Trading is expected to statesman connected Friday, according to Bloomberg and the Wall Street Journal.

The institution intends to usage the proceeds for superior expenditures related to expanding accumulation facilities successful South Korea and acquiring utmost ultraviolet (EUV) lithography scanners, the monolithic machines manufacturers usage to nutrient precocious chips.

Demand for the offering has already exceeded the fig of ADRs available, according to the woody presumption seen by Bloomberg.

Shares of the institution successful South Korea slumped, arsenic the rise would beryllium little than the $29 cardinal initially indicated successful precocious June.

SK Hynix on with peers Samsung Electronics (005930.KS) and Micron Technology (MU) has been riding the AI question implicit the past twelvemonth arsenic high-bandwidth representation has go a captious bottleneck successful AI infrastructure.

The banal has climbed much than 250% successful South Korea, pushing the representation spot maker's marketplace capitalization supra $1 trillion successful May aft Micron Technology (MU) reached the aforesaid milestone.

The company's year-over-year gross has jumped astatine an annualized complaint of 198% successful the archetypal 4th of 2026, according to the filing.

Some of SK Hynix clients see AI spot heavyweight Nvidia (NVDA), Google (GOOG, GOOGL), and Microsoft (MSFT).

Ines Ferre is simply a elder concern newsman for Yahoo Finance. Follow her connected X astatine @ines_ferre.

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