SK Hynix surged 13% in its historic U.S. trading debut on July 10, 2026, closing at $168 after the South Korean memory chipmaker priced its American depositary receipts at $149 each, raising $26.5 billion in what ranks as the largest-ever initial public offering by a foreign company in the United States.
The offering shattered the previous record held by China’s Alibaba, which raised $25 billion in its 2014 U.S. debut. According to TechCrunch, SK Hynix’s $26.5 billion raise marks the biggest foreign IPO in U.S. history, making it the second-largest IPO on record globally, behind only SpaceX’s offering earlier in 2026.
SK Hynix sold 177.9 million American depositary receipts, with each ADR representing one-tenth of a company share, according to TechCrunch. The shares opened for trading on the Nasdaq under the temporary ticker SKHYV before switching to SKHY, making the South Korean chipmaker accessible to U.S. investors for the first time.
The strong debut reflects surging global demand for memory chips, particularly high-bandwidth memory (HBM) products used in artificial intelligence systems. SK Hynix is one of the world’s largest makers of memory chips and has benefited from the AI boom driving consumption of semiconductors across data centers and AI infrastructure. According to SK Hynix’s own market outlook, demand for its HBM3E and HBM4 products is expected to fuel an AI memory supercycle in 2026.
The company had already sold out its entire 2026 memory production capacity, including DRAM, NAND, and HBM products, according to reporting on the chipmaker’s supply situation. This tight supply environment, combined with explosive AI adoption, created strong investor appetite for the offering. Reuters reported that the listing was more than seven times oversubscribed, signaling robust demand from institutional and retail investors.
SK Hynix Chairman Chey Tae won told CNBC after the debut that “demand is enormous,” underscoring the company’s optimistic outlook. The chairman has previously stated that the memory chip shortage could persist until at least 2030, driven by rapid growth in AI data centers and infrastructure expansion.
The IPO marks a significant moment for foreign listings on U.S. exchanges and opens a new avenue for American investors to gain exposure to a critical player in the semiconductor supply chain at a time when AI computing power and memory capacity are in acute shortage.
Sources
- Reuters — SK Hynix pricing at $149 per share, raising $26.5 billion, and oversubscription details
- TechCrunch — Largest foreign IPO in U.S. history, ADR structure, and second-largest IPO on record globally
- Yahoo Finance — Stock surge of 13% on debut, ADR pricing, and largest first-time listing by foreign company
- Wall Street Journal — 13% rise on first trading day
- CNN — Previous record held by Alibaba at $25 billion in 2014, largest U.S. listing by foreign company
- Financial Times — 13% jump on Nasdaq debut, stock price reaching as high as $177
- CNBC — Chairman statement that “demand is enormous,” ADR structure and ticker information
- SK Hynix News — 2026 market outlook on HBM3E and HBM4 products fueling AI memory supercycle
- TechSpot — SK Hynix sold out entire 2026 memory production capacity
