How SK Hynix just pulled off the second-largest U.S. share sale by quietly powering the AI boom

Key Points:

• SK Hynix, a key player in the AI boom, specializes in high-bandwidth memory chips used in Nvidia processors and controls about 60% of the global HBM market, driving its recent surge in value and demand amid a chip shortage.
• The company, now listed in the U.S., aims to attract global investors and potentially increase its valuation by up to 20%, overcoming the so-called "Korea Discount" linked to corporate governance issues in Korean conglomerates.
• SK Hynix has experienced rapid growth with record revenues and profits in 2025, fueled by AI-driven demand, and is investing heavily to double production capacity within five years despite ongoing supply shortages.
• South Korea's stock market rally is largely driven by SK Hynix and Samsung Electronics, though concerns about market volatility and concentrated retail investor exposure have emerged, particularly due to leveraged ETFs focused on these two companies.
• The AI boom is impacting Korean society and politics, with significant employee bonuses at chip companies raising inflation concerns and prompting government discussions on distributing AI-driven wealth more broadly, while large investments in new semiconductor fabs signal long-term growth ambitions.