SK Hynix shares jumped 14% in a record-breaking Nasdaq debut. The company raised $26.5 billion in its initial public offering. This listing is the largest U.S. debut by a foreign company, surpassing Alibaba’s 2014 record. The deal represents the second-largest U.S. share sale in history.
American depositary receipts priced at $149. The stock opened at $170. It closed the first trading day at $168.01. Institutional demand left the offering more than seven times oversubscribed.
Investor interest centered on SK Hynix's role as the leading producer of high-bandwidth memory (HBM) chips. These components are critical for artificial intelligence processors. The company will use the proceeds to expand manufacturing capacity to meet accelerating global demand for AI hardware.