SK Hynix targets up to $29.4 billion in a Nasdaq ADR offering, backed by 7x oversubscription, to fund AI chip factory expansion and ASML equipment

SK Hynix is experiencing a boom credited to AI. It will ride that to a multibillion-dollar U.S. IPO, expected to take place on Friday.

SK Hynix's $28 billion Nasdaq ADR offering was heavily oversubscribed, with books closing early as investors chase AI memory chip exposure amid HBM