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 could become the second-largest share sale globally, trailing only SpaceX's recent initial public offering.
The move signals a major capital raise for the Nvidia supplier, which aims to capitalize on surging demand for high-bandwidth memory in the artificial intelligence sector.
By accessing U.S. capital markets, SK Hynix seeks to fund expansion and maintain its competitive edge against rivals like Micron Technology.
This listing represents a significant shift for the company, which has historically relied on domestic funding and private placements.
The scale of the offering underscores the immense capital requirements of the current AI infrastructure build-out, where memory bandwidth is a critical bottleneck.