SK Hynix Launches $28B Nasdaq Uplisting on Global AI Memory Boom

The July 7 launch of SK Hynix's Nasdaq ADR listing under ticker SKHY targets about $28 billion, ranking as the world's second-largest share sale of 2026 after SpaceX's June IPO.

Key Takeaways

SK hynix launched its Nasdaq ADR listing under ticker SKHY on July 7, 2026, offering about 17.79 million new depositary receipts to raise roughly US$28 billion, with 10 ADRs equal to one common share.
At the top of the price range it would be the second-largest global share sale of 2026, behind SpaceX's US$85.7 billion June IPO and ahead of Saudi Aramco's US$25.6 billion 2019 deal.
Books drew about US$7 billion in indicated demand by Monday; final pricing is expected Thursday with trading opening Friday.
Proceeds will fund new HBM (High-Bandwidth Memory) factories in South Korea and equipment purchases including ASML EUV scanners, with HBM output effectively sold out to hyperscalers through 2027.
The uplisting gives U.S. institutional investors direct exposure to the AI memory supply chain, previously accessible mostly via KOSPI trading.

Kaan Tınmaz Jul 7, 2026 Updated Jul 14, 2026

South Korean memory-chip giant SK hynix on July 7, 2026 officially launched its U.S. listing on Nasdaq under the ticker SKHY, offering roughly 17.79 million new depositary receipts in a deal targeting about US$28 billion in gross proceeds. Ten ADRs represent one common share, priced against SK hynix's Seoul trading range.

Second-Biggest Sale of 2026

If priced at the top of the range, the offering would rank as the second-largest global share sale of 2026, trailing only SpaceX's record US$85.7 billion June IPO and surpassing Saudi Aramco's US$25.6 billion 2019 deal. Books were reported to have drawn US$7 billion in indicated demand by Monday. Final pricing is expected Thursday, with trading to open Friday.

Where the Money Goes

SK hynix said proceeds will fund new HBM (High-Bandwidth Memory) factories in South Korea and the purchase of chipmaking equipment including extreme ultraviolet (EUV) scanners from ASML. HBM has become the single tightest supply choke point in AI infrastructure, with roughly all output tied to hyperscaler orders through 2027.

Why It Matters

The uplisting cements SK hynix's status as the world's dominant HBM supplier at a moment when Micron, Samsung and hyperscalers are racing to expand capacity — see Micron's $9.3B Hiroshima HBM plant, Meta's $6.5B Samsung Foundry 2nm MTIA deal and NVIDIA's multi-year SK hynix memory pact. It also gives U.S. institutional investors direct exposure to the memory tier of the AI supply chain, previously accessible mostly through KOSPI trading.

Reporting based on coverage from Reuters, SiliconANGLE and IPOScoop.

Category: IPO & Public Markets

Tags: Series A Funding Shanghai Stock Exchange Semiconductor Robotics robotics funding

Frequently Asked Questions

What is SK hynix's Nasdaq ticker and how much is it raising?

SK hynix listed ADRs on Nasdaq under the ticker SKHY, offering about 17.79 million new depositary receipts targeting roughly US$28 billion in gross proceeds. Ten ADRs represent one common share.

How does the SK hynix offering rank among 2026 share sales?

If priced at the top of the range, it would be the second-largest global share sale of 2026, trailing only SpaceX's record US$85.7 billion June IPO and surpassing Saudi Aramco's US$25.6 billion 2019 deal.

How will SK hynix use the IPO proceeds?

Proceeds will fund new High-Bandwidth Memory (HBM) factories in South Korea and chipmaking equipment purchases, including extreme ultraviolet (EUV) scanners from ASML.

Why does the listing matter for AI investors?

HBM is the tightest supply choke point in AI infrastructure, with output tied to hyperscaler orders through 2027. The Nasdaq listing gives U.S. institutional investors direct access to the dominant HBM supplier, previously accessible mostly through KOSPI trading.