SK Hynix shares jumped 11% in Seoul trading Thursday after the company announced plans to list American depositary receipts on the Nasdaq.
The South Korean memory chipmaker filed to issue 17.79 million new shares, aiming to raise as much as $29.4 billion (45.45 trillion won) in what would be one of the largest US listings by a foreign semiconductor firm in recent years.
The move underscores the immense capital intensity of the artificial intelligence memory race.
SK Hynix, a global leader in high-bandwidth memory (HBM) critical for AI accelerators, is seeking to deepen its access to US capital markets to fund ongoing expansion.
The listing provides US institutional and retail investors with a direct vehicle to gain exposure to the company, which has seen its valuation surge alongside the broader AI infrastructure build-out.
The filing marks a significant step in the company's strategy to secure funding for its next generation of memory technologies.