SK Hynix sets $26.5bn price for US share sale
The South Korean chip maker is moving ahead with a large Nasdaq listing as demand for AI-related memory chips lifts its business.
SK Hynix has priced a US share sale at $26.5bn, with trading due to begin on Nasdaq on Friday, according to reports from several outlets. The South Korean chip maker is using the listing to tap investor appetite for companies tied to artificial intelligence.
The deal is expected to be one of the biggest stock sales ever by a foreign company in the United States. The Guardian said the company plans to sell the equivalent of about 18 million shares.
SK Hynix supplies advanced memory chips and has benefited from the surge in spending on AI data centres. Its profits have risen sharply as technology companies race to expand the infrastructure needed for those systems.
The listing adds another large semiconductor name to Wall Street’s technology-heavy exchange at a time when AI demand is reshaping the market for chipmakers.
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