South Korean semiconductor powerhouse SK Hynix, a primary supplier for AI chip leader Nvidia, announced on Thursday that it has successfully raised $26.5 billion via a US share offering. The company confirmed the sale of 177.9 million American depositary shares, priced at $149 each, with trading scheduled to commence on the Nasdaq this Friday.
Investor appetite for the offering proved exceptionally strong, with reports indicating that demand was over seven times higher than the number of available shares. This move provides US investors with direct access to SK Hynix stock, bypassing the need to utilize overseas stock exchanges, while simultaneously offering the firm a strategic route to tap into capital from the world’s largest economy.
As one of the globe’s leading manufacturers of advanced memory chips—critical components for AI infrastructure such as data centers—SK Hynix has experienced significant growth. In May, the company’s market valuation surpassed $1 trillion in South Korea, fueled by the accelerating global demand for AI technology.
The company has indicated that the capital will support its ongoing commitment to enhancing South Korea’s chip-making and AI capabilities. This initiative aligns with broader national efforts; in June, the South Korean government announced a partnership with both SK Hynix and Samsung, outlining plans for investments exceeding $880 billion. Currently, both firms hold market valuations exceeding $1 trillion, placing them alongside other global tech titans such as Nvidia, Apple, Microsoft, and Google-owner Alphabet.
