SK Hynix debuts on Nasdaq in largest US listing by a foreign company
Money MovesThe South Korean memory maker raised about $26.5 billion, beating Alibaba's 2014 record and opening a core AI-chip supplier to US investors.
July 10th, 2026: SK Hynix debuts on NasdaqNew here? Follow stories to track developments over time. Create a free account to get updates when stories you care about change.
Overview
Updated Jul 10SK Hynix rang the Nasdaq opening bell on July 10 and raised about $26.5 billion. No foreign company has ever raised more in a US share sale.
The South Korean firm makes roughly 56% of the world's high-bandwidth memory, the stacked chips that sit next to Nvidia's AI processors. Its stock is now open to US buyers for the first time. Orders covered seven times the shares on offer.
Why it matters
US investors can now buy a direct stake in the company that supplies most of the memory inside Nvidia's AI chips.
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The world's largest maker of high-bandwidth memory, the chips that feed Nvidia's AI processors.
The US exchange where SK Hynix's American Depositary Receipts now trade.
The AI-chip leader that buys most of SK Hynix's high-bandwidth memory.
Timeline
March 2026 July 2026
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SK Hynix debuts on Nasdaq
Latest MarketTrading begins under ticker SKHYV. The sale is the largest US listing ever by a foreign company, beating Alibaba's 2014 record. Shares are indicated to open well above the offer price.
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Deal priced at $149
CorporateSK Hynix prices 177.9 million ADRs at $149 each, raising about $26.5 billion. Orders covered seven times the shares.
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Offering opens to investors
CorporateThe share sale goes live, testing demand for the year's biggest AI-linked listing.
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Chip shares slide before the deal
MarketSamsung and SK Hynix shares fall as a Nasdaq tech selloff tests appetite for AI stocks days before pricing.
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Listing plan goes public
CorporateSK Hynix confirms plans for a Nasdaq ADR listing of up to roughly $29 billion.
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Kwak floats a US listing
StatementAt SK Hynix's annual meeting, CEO Kwak Noh-jung says an ADR listing would widen the investor base and lift valuation.
Historical Context
3 moments from history that rhyme with this story — and how they unfolded.
TSMC lists ADRs in New York (1997)
Taiwan Semiconductor Manufacturing Company, the world's largest contract chipmaker, listed American Depositary Receipts on the New York Stock Exchange while keeping its main listing in Taipei.
The listing gave US investors direct access to a rising Asian foundry.
TSMC grew into a core supplier for Apple, Nvidia, and the whole AI chip industry, and its US-traded shares became a widely held tech holding.
It shows the same playbook SK Hynix now runs: an Asian chip supplier tapping US markets while staying listed at home.
Alibaba US IPO (2014)
Chinese e-commerce group Alibaba raised about $25 billion on the New York Stock Exchange under ticker BABA. It was the largest US share sale by a foreign company, a record that stood for nearly twelve years.
Shares jumped 38% on the first day, valuing Alibaba above $230 billion.
The listing became a benchmark for foreign mega-deals and later drew scrutiny as US-China tensions grew.
SK Hynix's $26.5 billion sale is the deal that finally beat Alibaba's record.
Arm Holdings Nasdaq IPO (2023)
UK chip-design firm Arm, owned by SoftBank, raised about $4.9 billion on Nasdaq at $51 per share. Investors treated it as a way to buy into the AI hardware boom.
Shares rose about 25% on debut, then swung sharply in later months.
Arm's stock became a proxy for AI-chip sentiment, rewarding early buyers but staying volatile.
Like Arm, SK Hynix is selling US investors a pure-play stake in the AI supply chain, with the same demand and the same volatility risk.
