SK Hynix has successfully closed its initial public offering on the Nasdaq, raising $26.5 billion in what marks the largest US debut by a foreign company in history.
The offering eclipses the previous record of $21.8 billion set by Alibaba in 2014, signaling robust investor appetite for high-growth semiconductor assets despite broader market volatility.
The South Korean memory chipmaker began trading under the new ticker symbol SKHY on Friday, launching one of the most significant technology listings in recent years.
The capital raise is a critical component of SK Hynix’s strategy to fund aggressive expansion in AI memory production, particularly high-bandwidth memory (HBM) units essential for next-generation artificial intelligence infrastructure.
By accessing global capital markets directly, the company aims to reduce reliance on domestic funding sources and secure the liquidity needed to compete with rivals like Samsung Electronics in the rapidly evolving AI chip sector.
This move follows earlier reports of a combined $520 billion investment push by Samsung and SK Hynix into new AI chip fabrication plants.
The listing also serves as a strategic hedge against currency fluctuations, providing the company with a stable dollar-denominated funding base.