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SK Hynix sold 177.9 million American depositary shares in the New York offering, according to a regulatory filing that confirmed the pricing at $149 per ADS. The transaction drew demand more than seven times the shares available, a person familiar with the matter told Reuters. Each ADS represents one-tenth of a common share listed in Seoul, and the company described the sale as a step to simplify access for American investors while drawing capital from the world’s largest economy.
Proceeds from the share sale will support construction of new factories and acquisition of equipment to expand production of high-bandwidth memory chips essential for AI systems, Reuters reported. SK Hynix, the world’s largest manufacturer of advanced memory chips for data centers and AI infrastructure, maintains a pivotal role as the primary supplier to Nvidia. The South Korean firm has already committed to significant capital expenditure increases this year to address sustained order strength in AI-related components.
Counterpoint Research figures from the prior year placed SK Hynix’s share of the global high-bandwidth memory market at 64 percent after that segment expanded 178 percent year on year in the second quarter. The same data showed the company leading the broader DRAM market with 38 percent of revenue. Such dominance stems from its early advances in technologies required for training and operating large-scale AI models used across major technology platforms.
The company’s market capitalization first surpassed $1 trillion on the Korean exchange in May after its share price tripled over the course of this year, contributing more than 70 percent to gains in the Kospi index, according to exchange data. Trading in the newly listed American depositary receipts is scheduled to begin on Nasdaq on Friday. The listing follows SK Hynix’s earlier review of measures aimed at enhancing its overall corporate value through greater international exposure.
The US share offering is projected to narrow the valuation disparity with American competitor Micron, which commands a premium despite holding a smaller position in high-bandwidth memory products, a Bloomberg assessment found. SK Hynix overtook Samsung Electronics as the top global memory chip producer largely through its focus on AI-driven demand. The fundraising aligns with ongoing collaboration between SK Hynix and Nvidia on semiconductor design and manufacturing innovations that apply AI tools to chip development processes.
SK Hynix has sold out its advanced chip output for the current year, underscoring robust customer bookings from leading AI developers, according to company updates. The $26.5 billion capital raise stands among the semiconductor sector’s largest tied directly to infrastructure supporting artificial intelligence expansion worldwide. Industry observers note that direct access to US capital markets positions the firm to sustain investment levels required to match accelerating demand for its specialized memory solutions.
