U.S. · South Korea · Datacenter Dynamics
SK Hynix raises $26.5bn in blockbuster US IPO
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Memory giant SK Hynix has gone public on the Nasdaq, raising $26.5 billion to help it expand to meet AI data center demand.
Key facts
- The company’s American depositary receipts, or ADRs, were priced at $149 and have since risen to more than $173
- Memory giant SK Hynix has gone public on the Nasdaq, raising $26.5 billion to help it expand to meet AI data center demand
- Over the course of the year, SK Hynix's market cap has more than tripled in South Korea, amid a surge in memory stocks
- The IPO is the largest ever US listing by a foreign firm
Summary
The IPO is the largest ever US listing by a foreign firm. The company’s American depositary receipts, or ADRs, were priced at $149 and have since risen to more than $173. Over the course of the year, SK Hynix's market cap has more than tripled in South Korea, amid a surge in memory stocks. Memory prices have risen dramatically this year amid record demand for AI data center servers and chronic supply shortages.