South Korea’s SK Hynix lists on Nasdaq via ADRs at $149 each, offering U.S. investors direct exposure to AI-driven memory chip demand.
SK Hynix begins trading on Nasdaq Thursday under the ticker SKHY, pricing its American depositary receipts at $149 each. The offering is expected to raise roughly $28 billion, marking one of the largest listings of the year and providing U.S. investors direct access to the high-bandwidth memory (HBM) market.
The company holds 58% of the global HBM market, a segment critical to AI chip performance. Until now, U.S. investors had limited options, with Micron Technology as the primary pure-play memory stock. SK Hynix’s debut comes as memory prices surge, though Micron shares have fallen 25% from recent highs amid cost pressures on smartphone and PC makers.
The IPO arrives as the memory chip boom shows signs of slowing, with excitement around AI-driven demand potentially pricing in near-perfect outcomes. Comparisons to SpaceX’s recent blockbuster debut highlight the scale of the offering, though market conditions may temper immediate upside.