The Financial Times reported that the share offering was seven-times oversubscribed and more than 500 investment firms had sought to buy shares.
South Korean chipmaker SK Hynix has raised around $26.5bn in its US stock market debut.
It offered 177.9m American depositary shares at a price of $149 each to begin trading on the Nasdaq Global Select Market today (10 July).
Bloomberg reported that this amounts to the largest-ever US first-time share sale by a foreign company and the third-biggest listing in history. In June, SpaceX made the largest stock market debut in history by raising $75bn.
The Financial Times (FT) reported that, as per two sources familiar with the matter, the share offering was seven-times oversubscribed and more than 500 investment firms had sought to buy shares.
Bank of America Securities, Citigroup, Goldman Sachs and JP Morgan are acting as active book-running managers for the offering, SK Hynix said, and they could stand to make up to $140m in fees from the process, the FT reported.
According to Bloomberg, SK Hynix priced the listing at a 3pc premium compared to Thursday’s closing price for its ordinary shares in Korea markets.
Leading chipmakers – whose memory components are critical to AI data centre expansion – have become some of the main benefactors of the AI race as competing tech giants spend billions to build and tap into data centres.
In late May, SK Hynix, which makes high-bandwidth memory (HBM) chips, hit a $1trn valuation after the company reported a five-fold surge in quarterly profits, while recent research from Counterpoint showed that SK Hynix held 57pc of the HBM market in the fourth quarter of 2025.
While chipmakers such as SK Hynix, Micron, Samsung and Nvidia have benefitted from huge demand, the AI-led surge has also led to a major global chip shortage.
Earlier this year, IDC and Gartner warned that supply constraints could cause significant decline in smartphone and PC shipments, and also predicted sharp rises in price for the products due to a predicted surge in combined DRAM and solid-state drive prices by the end of 2026.
Microsoft’s gaming division Xbox, which announced job cuts and restructuring plans earlier this week, had previously cited the cost of hardware components for manufacturing consoles as one source of its current financial and operational hardships.
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