SK Hynix has confirmed plans to raise up to $29.4 billion (45.45 trillion won) through a listing of American depositary receipts on the Nasdaq.
The South Korean memory chipmaker will issue 17.79 million new shares in what is expected to be one of the largest equity offerings in the semiconductor industry this year.
The move comes as investor appetite for artificial intelligence-related stocks remains robust, with the company aiming to capitalize on the sector's momentum.
The announcement follows a period of significant capital raising across the technology sector, including record-breaking equity issuances by other major players such as Elon Musk's SpaceX.
SK Hynix's decision to tap the US market underscores the growing importance of American investors in funding the next wave of semiconductor expansion, particularly in memory chips critical for AI infrastructure.
This development adds to the ongoing repricing of semiconductor stocks, which have seen substantial gains driven by expectations of sustained demand for high-bandwidth memory and other advanced chips.