SK hynix lands $26.5 billion as AI chip demand surges

SK hynix sold 177.9 million American depositary shares, or ADSs, at $149 each. Every 10 ADSs represent one ordinary share in the company. The securities will trade on the Nasdaq under the ticker SKHY.

The offering is equal to 17.79 million new ordinary shares, or about 2.5% of the company’s total issued stock.

The U.S. listing will make it easier for American investors to buy shares in SK hynix. The company’s ordinary shares are already traded on the Korea Exchange under the code 000660.

“We intend to use the net proceeds we receive from this offering for general corporate purposes, including capital expenditures,” SK hynix said in its prospectus.

The company has seen strong growth because of rising demand for high-bandwidth memory, or HBM. This type of memory is used with powerful processors in artificial intelligence systems and data centers.

According to the company’s prospectus, SK hynix held 56.4% of the global HBM market by revenue in the first quarter of 2026.

It also ranked second in the global DRAM market with a 29.1% share and second in NAND flash memory with an 18.5% share.

SK hynix is increasing production to meet growing demand. In the first quarter of 2026, it began production preparations at its M15X facility in Cheongju and plans to gradually raise output.

The company is also developing new factories and research facilities in Yongin. In addition, it is building an advanced chip packaging plant in the US state of Indiana.

The Indiana facility is expected to start operating in the second half of 2028 and will support growing demand for AI memory chips.

SK hynix reported revenue of 52.58 trillion won, or about $34.5 billion, in the first quarter of 2026. This was nearly three times higher than the $11.58 billion recorded a year earlier.

Earlier, Qazinform News Agency reported that Apple had signed a multiyear agreement worth more than $30 billion with Broadcom to design and manufacture wireless chips in the United States.