SK Hynix, the South Korean company that makes the memory chips powering Nvidia’s AI accelerators, is about to become a very big deal on Wall Street. The chipmaker has launched a US share offering through American Depositary Receipts on Nasdaq, targeting between $28 billion and $29.4 billion in what would rank among the largest foreign share sales ever.
Demand has exceeded available shares by more than seven times, with cornerstone investors alone committing upwards of $7 billion.
The numbers behind the offering
SK Hynix plans to issue approximately 177.9 million ADRs, equivalent to about 17.79 million new common shares, under the Nasdaq ticker SKHY. The offering is priced near $149 per ADR, which would land the raise at around $26.5 billion at that level.
The company’s stock has more than tripled in value during 2026. SK Hynix has earmarked the proceeds for constructing new chip fabrication facilities in South Korea and purchasing advanced EUV lithography scanners from ASML. A new fab is expected to come online in the first half of 2027. The broader buildout could increase SK Hynix’s production capacity by approximately 60% by 2030.
