SK Hynix raises $26.5B in the largest-ever US listing by a foreign company

SK Hynix's Nasdaq ADRs priced at $149 and opened near $171.50, a 15% pop that put market cap at $1.25 trillion on a $26.5B raise — past Alibaba's 2014 deal as the biggest US IPO ever by a foreign company, and oversubscribed more than 7x. The capital marks how far the AI memory boom has repriced HBM suppliers: SK Hynix holds 56.4% of the global HBM market and sits inside Nvidia's supply chain, so a memory maker now clears a valuation once reserved for the frontier logic vendors it feeds.

Source: bloomberg.com ↗