SK Hynix has completed a $34 billion initial public offering on the Nasdaq, marking the second-largest stock listing in history.
The South Korean memory chipmaker issued 17.79 million new American depositary receipts to close the deal, surpassing its initial target of approximately $29.4 billion.
The massive capital raise reflects the market's valuation of SK Hynix as a critical supplier to the artificial intelligence boom.
As a key provider of high-bandwidth memory to Nvidia, the company has seen its profits and share price surge alongside the global race to build AI data centers.
The listing provides the firm with a deeper pool of liquidity and greater visibility among global institutional investors.
This development caps a rapid ascent for SK Hynix, which previously filed to list its ADRs on the Nasdaq earlier this year.