SK Hynix debuted on the Nasdaq today, raising $26.51 billion. This marks the largest-ever initial public offering by a foreign company in the United States. The total surpasses the record set by Alibaba in 2014.
The company priced its American depositary receipts at $149 each. SK Hynix serves as a critical supplier of high-bandwidth memory to NVIDIA. Soaring demand for artificial intelligence infrastructure drove the record-breaking valuation.
The capital raise will fund facility expansions and the purchase of advanced equipment. This listing aims to align the firm's valuation with U.S. rivals. The move may lead to the company's inclusion in major U.S. semiconductor indexes.