South Korea’s SK Hynix raises $26.5bn in record-breaking US IPO
Summary
South Korean chip maker SK Hynix raised $26.5 billion in its initial public offering (IPO) on the Nasdaq stock exchange, setting a record for a foreign company in the U.S. The strong demand for semiconductors used in artificial intelligence (AI) helped drive the success of the IPO, which was oversubscribed by more than seven times.Key Facts
- SK Hynix sold 177.9 million American depositary shares (ADS) at $149 each before listing on Nasdaq.
- The IPO raised $26.5 billion, surpassing Alibaba’s $25 billion IPO in 2014 as the largest foreign company listing in the U.S.
- SK Hynix’s IPO was the second-largest global listing after SpaceX’s $85.7 billion offering in June 2026.
- The IPO was more than seven times oversubscribed, with about $171 billion in orders.
- SK Hynix earned 40.34 trillion won ($26.6 billion) in net income during the first quarter of 2026.
- Since the start of 2026, SK Hynix shares on the South Korean stock exchange have risen about 229%.
- SK Hynix joined the $1 trillion club in May alongside Samsung Electronics and Micron Technology.
- The company and Samsung agreed to invest $518 billion in AI-related chipmaking facilities as part of a South Korean government initiative.
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