South Korea’s SK Hynix raises $26.5bn in record-breaking US IPO

Key Points:

• South Korean semiconductor company SK Hynix raised a record $26.5 billion through the sale of 177.9 million American depositary shares (ADS) priced at $149 each ahead of its Nasdaq debut, marking the largest-ever US listing by a foreign company.
• The IPO surpassed Alibaba's $25 billion debut in 2014 and ranks as the second-largest global listing after SpaceX's $85.7 billion Nasdaq listing, with demand reportedly more than seven times oversubscribed.
• SK Hynix's strong market reception reflects soaring demand for AI-related memory chips, with the company posting a record net income of $26.6 billion in Q1 2026 and its shares on the South Korean stock exchange up 229% year-to-date.
• The company is part of a $1 trillion AI investment initiative in South Korea alongside Samsung Electronics, aiming to build new chipmaking facilities, as investor interest shifts toward semiconductor supply chain firms amid concerns over sustainability of tech giants' AI budgets.
• South Korea's stock market has experienced an AI-driven rally, rising over 70% in 2026, fueled by increased retail participation and investor enthusiasm for semiconductor companies like SK Hynix and Samsung.