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South Korean Chipmaker SK Hynix Raises $26.5 Billion in Record Nasdaq IPO Surpassing $1 Trillion Market Cap

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First reported by Globes · Jul 13, 2026

What happened

South Korean chipmaker SK Hynix raised $26.5 billion in a record Nasdaq IPO, becoming the largest foreign U.S. listing and surpassing a $1 trillion market cap. The company dominates the high-bandwidth memory market crucial for AI, with strong demand driving its valuation and expansion plans. SK Hynix plans to invest the proceeds into advanced production facilities in South Korea.

01SK Hynix raised $26.5 billion in the largest-ever foreign IPO on Nasdaq, surpassing Alibaba's 2014 record.
02The company's market cap exceeded $1.19 trillion after ADRs jumped 13% on the first trading day.
03SK Hynix holds 56.4% of the global high-bandwidth memory (HBM) market, key for AI hardware.
04Demand for HBM chips is surging as SK Hynix plans to double production capacity in five years.
05The IPO helped reprice SK Hynix shares, closing the valuation gap with U.S. competitors like Micron.
06SK Hynix reported $35 billion in revenue and $26.48 billion net profit, investing IPO proceeds in South Korean facilities.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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Chey Tae-won