South Korea’s SK Hynix launched a $28 billion Nasdaq listing Monday, attracting $7 billion in investor interest from three major firms as the memory chipmaker capitalizes on surging demand for AI-focused semiconductor solutions.
The three interested parties — Baillie Gifford Overseas Limited, investment funds managed by Coatue Management, and Situational Awareness Partners — each indicated their interest separately, according to Investing.com. The company is selling 17.79 million new shares in American Depositary Receipt form on the Nasdaq.
SK Hynix dominates the high-bandwidth memory market crucial for AI systems. According to Seeking Alpha, the company held 56-58% market share in HBM chips in the first quarter of 2026, with revenue surging 198% year-over-year and operating margins exceeding 70%. Counterpoint Research data showed SK Hynix controlled 57% of global HBM revenue share in the fourth quarter of 2025, followed by Samsung at 22%, according to Yahoo Finance.
The listing represents a historic moment for the chipmaker. Fortune reported that SK Hynix’s offering could rank as the biggest-ever first-time share sale by a foreign company. By comparison, SpaceX raised $85.7 billion on the Nasdaq in June 2026, making it the largest IPO in history, according to DesignRush. Saudi Aramco’s 2019 IPO had previously raised $25.6 billion, while Alibaba’s 2014 U.S. listing raised $21.7 billion.
The South Korean firm is leveraging unprecedented demand for memory chips as global tech companies race to build out AI data centers. SK Hynix reported that customers had already secured its entire memory chip line-up for 2026, according to reporting from The Straits Times. The company’s shares have surged roughly 273% so far in 2026, with its market capitalization topping $1 trillion earlier this year, according to GuruFocus.
SK Hynix plans to use the proceeds to fund capacity expansion and new fabrication plants to meet continued AI-driven demand. The listing gives U.S. investors direct access to the memory chip giant’s ADRs under the ticker SKHY, marking a significant shift for a company that previously traded only on South Korean exchanges.
Sources
- Investing.com — confirmed the $7 billion investor interest from Baillie Gifford, Coatue Management, and Situational Awareness Partners
- Reuters — reported the $28 billion listing launch and company announcement
- Seeking Alpha — provided SK Hynix’s Q1 2026 revenue growth, operating margin, and HBM market share data
- Yahoo Finance — cited Counterpoint Research data on SK Hynix’s 57% HBM revenue share in Q4 2025
- Fortune — noted the listing as potentially the biggest-ever foreign company first-time share sale
- DesignRush — reported SpaceX’s $85.7 billion IPO as the largest in history
- The Straits Times — reported SK Hynix’s entire 2026 chip line-up was pre-sold
- GuruFocus — cited SK Hynix’s 273% share price increase and $1 trillion market cap milestone
