SK Hynix raises $26.5B in largest foreign IPO in US history

SK Hynix raised $26.5 billion in its U.S. IPO on July 10, 2026, setting a record for the largest foreign company debut in American history and surpassing Alibaba's 2014 record. The stock opened 14% above its $149 IPO price and gained approximately 21% on the first trading day, driven by strong investor demand for the South Korean memory chipmaker benefiting from the AI boom.

Quick Facts

IPO offering of American depositary shares
stock opened at $170 per share
raised $26.5 billion
briefly achieved $1 trillion valuation
overtook Samsung as South Korea's most valuable company

SK Hynix, a South Korean memory chip manufacturer, raised $26.5 billion in its U.S. market debut on July 10, 2026, setting a new record for the largest initial public offering by a foreign company in American history. The company sold 177.9 million American depositary shares at $149 each on the Nasdaq, surpassing Alibaba's previous record of $25 billion raised in 2014. The offering was priced at a 2.7% premium to SK Hynix's three-day average share price in Seoul and experienced demand exceeding seven times the available shares.

The stock opened at $170 per share, representing a 14% premium to its IPO price, and continued climbing during early trading, with indications suggesting a gain of approximately 21% by the close of the first day. This strong performance reflects investor appetite for companies positioned to benefit from the artificial intelligence boom. SK Hynix briefly achieved a $1 trillion valuation following the debut and overtook Samsung as South Korea's most valuable company, signaling a significant shift in the region's corporate landscape.

The capital raised will be deployed across three primary areas: construction of a new manufacturing facility in South Korea to address global memory chip shortages, development of a new packaging facility, and acquisition of EUV scanners needed for next-generation chip production. SK Hynix controls approximately 29% of the global DRAM market as of June 2026, alongside Samsung at 38% and Micron at 22%. The company supplies critical memory components including high-bandwidth memory (HBM) to major AI chip producers like Nvidia, whose data center and AI accelerator demand has created sustained pressure on global memory supply.

The IPO occurs amid broader geopolitical efforts to diversify memory chip manufacturing. U.S. Commerce Secretary Howard Lutnick has reportedly initiated discussions with both SK Hynix and Samsung regarding the construction of new manufacturing facilities on American soil. Concurrently, Micron announced plans to invest $250 billion in U.S. manufacturing, while Samsung and SK Hynix have together pledged over $550 billion in new manufacturing investments in South Korea. SK Group chairman Chey Tae-won indicated the company plans to expand memory chip capacity over the next five years to address supply shortages that could persist until 2030.

Topics

Technology Tech Breakthrough Business Artificial Intelligence

#memory chips #Nasdaq #Alibaba #foreign IPO record #AI #high-bandwidth memory #IPO #SK Hynix #semiconductor #DRAM

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Why This Matters

SK Hynix's record-breaking IPO signals a structural shift in global semiconductor supply chains. The company controls 29% of the DRAM market and supplies critical AI memory components (HBM) to Nvidia and others, making it central to AI infrastructure scaling. The $1 trillion valuation and displacement of Samsung as South Korea's top company reflects how AI-driven chip demand is reshaping corporate hierarchies. Capital deployment toward South Korean and potential U.S. manufacturing—amid geopolitical pressure to diversify production—indicates memory shortages could persist until 2030, directly affecting AI deployment timelines and costs.