SK Hynix Inc., a major memory chip manufacturer, is set to raise 45.45 trillion won ($29.4 billion) through a landmark US listing. This move is aimed at increasing capacity to meet the soaring demand for memory chips, particularly those used in artificial intelligence. This significant offering could potentially rank among the top five largest share sales ever, rivaling Saudi Aramco's record IPO in 2019.
The global AI build-out has created an insatiable demand for memory chips, making companies like SK Hynix, Samsung Electronics, and Micron Technology critical bottlenecks. SK Hynix, a dominant supplier of high-bandwidth memory (HBM) chips for AI systems, including customers like Nvidia and Google, held a 57% market share by revenue in the fourth quarter of 2025. The company's stock has surged over 300% this year, reflecting its strong position in the AI boom.
The US listing on the Nasdaq exchange, with trading expected to commence on July 10, is designed to tap into a broader investor base and potentially bridge any valuation gap compared to its competitors. The proceeds from this offering are planned for expanding production capacity, including building new chip factories in Yongin and Cheongju, and acquiring essential chipmaking equipment like extreme ultraviolet scanners. This strategic financial maneuver underscores SK Hynix's commitment to capitalizing on the AI industry's rapid expansion.
Leading financial institutions such as Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., and JP Morgan Chase & Co. are managing the offering. The company reported a record-high operating profit of 37.61 trillion won ($25.4 billion) for the first quarter, with sales nearly tripling to 52.58 trillion won, further highlighting its robust financial performance amidst the AI-driven market.
