A U.S. stock market listing as early as August is in the works for SK Hynix, with the South Korean memory chipmaker aiming to attract a wider pool of investors and capitalize on surging interest in AI-related equities.
The South Korean memory chipmaker filed confidentially for a U.S. listing in March and could raise as much as $14 billion
Bloomberg / Getty Images
A U.S. stock market listing as early as August is in the works for SK Hynix, with the South Korean memory chipmaker aiming to attract a wider pool of investors and capitalize on surging interest in AI-related equities.
Regulatory clearance from the SEC for the listing application could arrive during the week of June 22, Reuters reported, citing people familiar with the matter who asked not to be identified. "SK Hynix plans to issue ADRs within 2026, but the details, including the size and timing, have not yet been decided," the company said in a statement.
SK Hynix filed confidentially for a U.S. listing in March. At the time, a source told Reuters the offering could raise as much as $14 billion.
The world's second-largest memory chipmaker is a dominant supplier of high-bandwidth memory chips used in AI servers, with its position as Nvidia $NVDA's largest memory partner placing it at the center of the global AI infrastructure buildout. SK Hynix stock has climbed 240% this year.
In late May, SK Hynix reached a market capitalization of $1 trillion for the first time, closing 9.3% higher on the Korea Exchange as demand for high-bandwidth memory chips increased. During that session, its market value peaked at about $1.12 trillion. Only TSMC $TSM and Samsung Electronics had reached this level before among Asian companies, making SK Hynix the third.
SK Hynix commands 57% of global high-bandwidth memory revenue as of last year's fourth quarter, according to Reuters, with Samsung and Micron $MU Technology holding the remaining shares.
The company last week announced a multi-year technology partnership with Nvidia to develop next-generation memory chips for AI data centers, covering supply for Nvidia's Vera Rubin AI supercomputers, Vera CPUs, and other platforms. Nvidia CEO Jensen Huang described SK Hynix as Nvidia's largest memory partner and said the company already purchases billions of dollars from SK Hynix each year.
If the timeline holds, SK Hynix would enter U.S. markets during a stretch that is shaping up to be unusually active for new listings, with OpenAI, Anthropic, and SpaceX also expected to debut in the latter half of the year.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.