Shares of memory chip giant SK hynix rise after it bags $26.5B in blockbuster US listing
Updated with Friday trading:
Shares of South Korean memory chipmaker SK hynix Inc. opened at 14% over their initial asking price Friday, a day after it priced its American Depository Receipts at $149, raising about $26.5 billion.
Shares opened at $170 as they debuted Friday morning, and closed just below that, at $168.01.
The decision to list its shares on the American exchange is a strategic move that aims to tap into the enormous enthusiasm for artificial intelligence-related stocks. SK hynix is the world’s top supplier of high-bandwidth memory chips, which are a critical component of the AI servers that power generative AI chatbots and agentic workloads.
