The largest ADR listing in history! SK Hynix plans to go public in the U.S. to raise $29.4 billion, heavily investing in expanding production of NVIDIA AI chips

According to foreign media reports on the 24th, SK hynix, the world's second-largest memory chip manufacturer and a core supplier of NVIDIA, announced plans to list on the Nasdaq via issuing American Depositary Receipts (ADRs), aiming to raise up to 29.4 billion USD.
This move is expected to break Alibaba's historical record, with all proceeds to be invested in expanding AI chip and high-bandwidth memory (HBM) capacity.
(Background: Too crazy! Bloomberg analyst: Hong Kong "double long SK hynix ETF" scale surges 10 times, daily trading volume exceeds 1 billion USD)
(Additional background: SK hynix Q1 profit margin 72%, the highest quarterly record in semiconductor industry history)

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• Challenging the largest IPO in history, scheduled to ring the bell on Nasdaq in July
• $29.4 billion bet on AI, fully expanding HBM and advanced packaging
• Deepening U.S. AI ecosystem layout, stock soaring 280% to pressure Samsung

The global AI wave continues to drive hardware arms races. As a core supplier of high-bandwidth memory (HBM) for NVIDIA, SK hynix is preparing to make a shockwave in the capital markets. According to the latest reports from foreign media on June 24, 2026, SK hynix plans to list on Nasdaq via issuing ADRs, with an expected fundraising scale of up to 29.4 billion USD.

Challenging the largest IPO in history, scheduled to ring the bell on Nasdaq in July

The report states that SK hynix plans to raise approximately 45.45 trillion Korean won (about 29.4 to 29.7 billion USD), which will not only significantly surpass Alibaba's 2014 record of 21.8 billion USD but also has the potential to become the largest ADR listing in global history. The issuance will be led by top Wall Street investment banks including Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase, with trading expected to begin on Nasdaq as early as July 10, 2026.

Regarding specific issuance details, SK hynix plans to issue 17.79 million new shares as the underlying for the ADRs, with an initial price of 255,500 KRW per ADR (exchange ratio of 10 ADRs for 1 common share). The total amount raised and final pricing will be determined after the bookbuilding process.

$29.4 billion bet on AI, fully expanding HBM and advanced packaging

Regarding the use of this massive fund, SK hynix explicitly states that all will be invested in expanding capacity for AI-related chips. The strategic blueprint includes building the first semiconductor cluster plant in Yongin, Gyeonggi Province, South Korea; establishing an advanced packaging plant called P&T7 in Cheongju, North Chungcheong Province; and heavily investing in EUV lithography equipment and other advanced chip manufacturing facilities.

As demand for AI chips grows exponentially, SK hynix urgently needs substantial capital to support its expansion plans. Market analysis suggests that issuing ADRs in the U.S. will help SK hynix attract global institutional investors and passive ETF capital flows, thereby driving a revaluation of its stock price and gaining both capital and market share advantages over competitors like Micron.

Deepening U.S. AI ecosystem layout, stock soaring 280% to pressure Samsung

With strong momentum from AI chips, SK hynix's stock price has surged over 280% since the beginning of this year, becoming the main driver of the Korean Kospi index's rise. This week, its market value even temporarily surpassed that of tech giant Samsung Electronics, rising to become Korea's most valuable company.

Industry insiders point out that SK hynix's move to approach Nasdaq is not only to address capital expenditure needs but also a key step in deepening its U.S. AI ecosystem layout. This comprehensive binding strategy—from chip manufacturing and technology R&D to capital markets—resembles the historic entry of ASML and TSMC into the U.S. capital market in the 1990s, signaling a new reshuffle in the global semiconductor landscape.