SK Hynix to begin trading on Nasdaq as AI demand lifts memory chip business

SK Hynix, South Korea’s secondmostvaluable company, is set to start trading on Nasdaq on Friday under the ticker SKHY, after a strong rally pushed its market value to about $1 trillion. The company is one of the main suppliers of memory chips used in devices from phones to laptops, and it has become a major beneficiary of demand tied to artificial intelligence. In particular, SK Hynix leads the market for highbandwidth memory, or HBM, which is used in AI chips from Nvidia. The listing comes as SK Hynix prepares to raise about $29 billion through American depositary receipts to help fund new factories and equipment. The company is also expanding in the U.S., including a $4 billion advanced packaging plant in Indiana that is expected to be completed in 2028. Beyond its U.S. plans, SK Hynix is investing heavily in South Korea to expand production capacity for both HBM and traditional memory chips. Analysts say the company’s growth has been supported by tight supply and rising prices, though they also note that the memory industry has historically been cyclical.