SK Hynix Plans $29 Billion Nasdaq Listing to Fund AI Chip Expansion

Jun 24, 2026

South Korea's SK Hynix plans to raise nearly $29.4 billion in a landmark Nasdaq listing to fund its expansion amid soaring AI chip demand. The world's dominant producer of high bandwidth memory (HBM), with a 60% market share, will use the funds for new plants in South Korea and the U.S. The move follows a 280% surge in its stock price this year, pushing its valuation over $1 trillion in one of the largest share sales ever.

Nasdaq ADR listing

▪SK Hynix plans to raise 45.45 trillion won ($29.4 billion) in a U.S. listing on the Nasdaq.
▪Depending on the exchange rate, the deal could be among the top five largest share sales of all time.
▪Trading is tentatively expected to begin on July 10, though the date is subject to change.
▪The company plans to issue 17.79 million new shares in the form of American depositary receipts (ADRs).

AI chip expansion plans

▪SK Hynix is building a new campus of memory chip fabrication plants in South Korea, known as the Yongin Cluster, set to begin operations in 2027.
▪The listing is intended to fund increased capacity to meet soaring demand for artificial intelligence memory chips.
▪The company is also building its first U.S. facility, a $4 billion packaging plant in Indiana.

HBM market dominance

▪According to Counterpoint research, SK Hynix holds about 60% of the HBM market share.
▪The growth of AI has created a global memory shortage, driving demand for high bandwidth memory (HBM).

Stock price surge

▪Shares in SK Hynix have soared over 280% in 2026, pushing its market capitalization above $1 trillion.
▪The stock surge was driven by investors viewing SK Hynix as a key beneficiary of the global demand for HBM chips.

South Korean market concentration

▪Together, SK Hynix and Samsung Electronics account for more than 40% of South Korea's benchmark Kospi index.
▪SK Hynix is South Korea's most valuable company.
▪This concentration has raised concerns that the South Korean market is exposed to risks like supply chain disruptions or a slowdown in data center investment.