SK Hynix, a South Korean memory chipmaker, made its Wall Street debut Friday with shares rising 12.8%, raising $26.5 billion（約4.2兆円） in the largest initial public offering by a foreign company in U.S. history. The surge reflects booming demand for memory chips essential to artificial intelligence, driven by partnerships like its recent deal with Nvidia and the company's dominant global position in high bandwidth memory.
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South Korean chipmaker SK Hynix priced its American depositary receipts (ADRs) at $149 each and opened Friday at $170, closing at $168.01—a 12.8% gain. The offering of 177.9 million ADRs raised $26.5 billion（約4.2兆円）, the largest initial share sale in the U.S. by a foreign company ever.
Why it matters
SK Hynix holds a dominant global position in high bandwidth memory, which is essential for advanced AI technology development. The company recently partnered with Nvidia for advanced memory chips. Demand for memory chips has surged as AI expands, driving up prices—so much so that Apple recently raised prices for Macs and iPads because of memory chip cost increases. The U.S. is SK Hynix's largest market, accounting for 68.8% of revenue.
What to watch
SK Hynix had revenue of just under $65 billion（約10兆円） in 2025 and profits roughly doubled to about $28 billion（約4.5兆円）. The company is planning to build its first U.S. production facility in Indiana and has joined Samsung and the South Korean government in announcing plans to invest a combined 800 trillion won ($518 billion（約83兆円）) in a new computer chipmaking hub in South Korea's southwest region.
SK Hynix's record-breaking U.S. debut reflects a broader surge in IPO activity driven by artificial intelligence demand. The second quarter saw 48 IPOs raising a total of $104.8 billion（約17兆円）—the biggest quarter for deal proceeds in five years—with many companies capitalizing on the rush to deploy AI infrastructure. SK Hynix enters at a moment when memory chips have become significantly more expensive as demand outpaces supply alongside AI advancement, strengthening the company's profit margins; profits roughly doubled to about $28 billion（約4.5兆円） in 2025 from the prior year.
The company's dominance in high bandwidth memory and recent partnership with Nvidia position it at the center of AI infrastructure expansion. With the U.S. representing nearly 70% of revenue, the planned Indiana production facility reflects both the company's reliance on the American market and its need to support surging domestic demand. Simultaneously, SK Hynix is part of a trilateral South Korean initiative—alongside Samsung and the government—to invest a combined 800 trillion won ($518 billion（約83兆円）) in a new chipmaking hub in the southwest, signaling the country's broader commitment to decentralizing semiconductor production beyond the greater Seoul region.
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