SK Hynix raises $26.5B in record-breaking US IPO
Original: SK Hynix raises $26.5B in the biggest foreign IPO in US history, is urged to build new US fabs
Why This Matters
SK Hynix's record IPO highlights how AI-driven HBM chip demand is reshaping global semiconductor investment and trade policy.
South Korean memory chip maker SK Hynix raised $26.5B (KRW 40 trillion) in its Nasdaq debut on July 10, 2026, surpassing Alibaba's 2014 record to become the largest-ever US IPO by a non-American company. Shares opened 14% above the $149 IPO price amid demand exceeding 7x available supply.
SK Hynix sold 177.9 million American depositary shares (ADRs) at $149 each, structured so US investors can purchase at roughly one-tenth the cost of a full Seoul-listed share. The offering priced at a 2.7% premium to its three-day average on the Korea Stock Exchange. Trading began Friday under ticker SKHYV, with permanent trading set to open Monday, July 13 under SKHY.
Proceeds will fund three areas: a new fabrication facility in South Korea to address AI-driven memory shortages, a new packaging facility, and EUV lithography scanners for next-generation chip production.
US Commerce Secretary Howard Lutnick, speaking at a separate Micron event, said he is already in talks with SK Hynix and Samsung about building new US-based factories, signaling pressure for Korean chipmakers to shift some production to American soil. Micron announced a $250 billion US manufacturing investment commitment, projecting over 90,000 jobs. Notably, Samsung and SK Hynix had just pledged over $550 billion combined for new South Korean manufacturing investment.