South Korean chipmaker SK Hynix is heading to the US stock market with one of the largest listings of its kind, aiming to strengthen its position in the booming market for AI chips.
According to Chosunbiz, SK Hynix is listing a record $29 billion in American Depositary Receipts (ADRs) on the Nasdaq, a move the outlet says is designed to sharpen the company's edge in AI chips and attract index-driven investment flows. Other outlets, including ETEnterpriseai.com and Verdict, described the deal in slightly lower terms at around $28 billion.
ADRs are US-traded securities that represent shares in a foreign company, giving American investors an easier way to buy into overseas firms. According to Moneycontrol, SK Hynix will offer depositary receipts backed by 17.79 million new shares, with final pricing expected Thursday and its Nasdaq debut anticipated Friday.
The timing reflects surging global demand for the chips that power artificial intelligence. Moneycontrol notes that SK Hynix is a supplier to Nvidia, and several reports frame the listing as a way for the company to ride the worldwide AI wave. Electronics For You Business reported that the proceeds are intended to help expand SK Hynix's AI chip business.
SK Hynix is a leading maker of high-bandwidth memory (HBM), a type of advanced memory chip that has become essential to AI data centers.
Why it matters: A record-sized US listing by a key Nvidia supplier signals just how much money is chasing the hardware behind the AI boom — and gives American investors a direct stake in one of its central players.