SK Hynix Leverages AI Boom for Major Nasdaq Listing and $28 Billion Fundraising

South Korean semiconductor giant SK Hynix is preparing for the largest-ever foreign company listing on the US stock market by filing for Nasdaq registration and planning to raise $28 billion. Currently valued at $1.22 trillion on the Seoul Stock Exchange, SK Hynix is one of the top three producers of advanced memory chips in high demand for AI data centers. Analysts note that beyond fundraising, the Nasdaq listing aims to boost the company's presence among American investors and customers.

Founded in 1983 as Hyundai Electronics, SK Hynix evolved through acquisitions and rebranding, including purchasing Intel's memory chip division for $9 billion in 2021. This acquisition positioned the company well for the AI revolution, which has driven unprecedented demand for powerful memory chips. In September 2024, SK Hynix became the first to mass-produce 13-layer high-bandwidth memory (HBM) chips, addressing critical bottlenecks in AI data centers using fast processors like Nvidia's.

SK Hynix's market value surpassed $1 trillion this year, briefly overtaking Samsung as South Korea's most valuable company on the Seoul exchange. Unlike Samsung, SK Hynix's valuation is almost entirely based on chip production. The Nasdaq listing will facilitate easier access for US investors, who currently face challenges trading SK Hynix shares due to time zone differences and reliance on American Depositary Receipts (ADRs).

Despite a 678% stock surge last year and a 279% rise since early 2026, investor caution exists amid concerns of an AI investment bubble and potential slowdown in data center spending. However, some experts predict resilient demand for SK Hynix shares. Recently, the South Korean government announced a $500 billion plan to build four new memory chip manufacturing plants in the southwest, led by Samsung and SK Hynix, aiming to maintain the country's leadership in the chip sector and address infrastructure and regional development imbalances.