SK Hynix debuts on Nasdaq as demand for memory chips surges
SK Hynix Nasdaq debut opens U.S. access to the AI chipmaker after a $26.5B raise See how strong memory-chip demand and expansion plans could shape its next move
SK Hynix began trading on the Nasdaq on Friday, with its American depositary receipts opening at $170, about 14% above the offer price. The listing gives U.S. investors access to the South Korean chipmaker, which raised $26.5 billion to fund expansion.
Chairman Chey Taewon said in a CNBC interview that demand for memory chips remains very strong, especially for highbandwidth memory used in AI systems. He said customers continue asking for more supply even after the company announced plans to expand capacity.
The company, South Korea’s secondmost valuable firm after Samsung, makes memory chips used in phones, PCs and AI hardware. SK Hynix also plans major investments in South Korea and a packaging plant in Indiana as it works to meet growing demand from AI infrastructure.