SK Hynix Seeks $28 Billion in US IPO Listing as Memory Maker Rides AI Wave

SK Hynix, a South Korea-based memory chip manufacturer, has announced plans to raise approximately $28 billion in a US initial public offering (IPO). The company will offer 17.79 million common shares on the Nasdaq, with trading expected to begin on Friday, according to an SEC filing. SK Hynix intends to use the proceeds for capital expenditures related to expanding production facilities in South Korea and acquiring extreme ultraviolet (EUV) lithography scanners, which are massive machines used to produce advanced chips. The company has been riding the AI wave over the past year, as high-bandwidth memory has become a critical bottleneck in AI infrastructure. SK Hynix's stock has climbed more than 250% in South Korea, pushing the memory chip maker's market capitalization above $1 trillion in May. The company's year-over-year revenue has jumped at an annualized rate of 198% in the first quarter of 2026, according to the filing. Some of SK Hynix's clients include AI chip heavyweight Nvidia, Google, and Microsoft. This IPO attempt by SK Hynix could help the company further expand its presence in the global market and meet the growing demand for AI technology, presenting an exciting opportunity for investors.