South Korea · Nvidia · Samsung · Jensen Huang · CNBC Technology
Meet SK Hynix, the trillion-dollar South Korean chipmaker debuting on U.S. markets
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U.S. investors are getting a new way to buy into the memory boom.
Key facts
- SK Hynix plans to spend around $7.8 billion on new EUV machines by the end of 2027, according to the company's filing with the SEC
- Annual revenue almost tripled from 2023 to 2025, when sales reached about $65 billion
- As of March 31, according to the Securities and Exchange Commission filing, SK Square, "which was demerged from SK Telecom in 2021, held a 20.5% interest in them
- SK Hynix expects to receive up to $458 million in funding from the U.S. CHIPS and Science Act, passed in 2022 as the centerpiece of a plan to build up the domestic chip industry
Summary
SK Hynix, the second most valuable company in South Korea, behind only Samsung, is slated to begin trading on the Nasdaq on Friday. Many Americans don't know the name SK Hynix, but they've likely had plenty of exposure to the company's products. SK Hynix is the leader in the high-performance memory that's used in AI chips from Nvidia, the world's most valuable company. In June, Nvidia CEO Jensen Huang visited SK Hynix on a trip to Seoul, as the two companies announced a multiyear partnership.