SK hynix priced a $26.5 billion U.S. offering of American depositary shares at $149 apiece, in one of the largest equity raises on record, as the South Korean memory-chip maker rides surging demand for AI data centers. The Nasdaq deal, reportedly more than seven times oversubscribed, underscores investor appetite despite recent volatility in high-valuation tech names. Proceeds will fund new fabrication capacity at a Yongin semiconductor cluster and an advanced packaging facility in Cheongju, bolstering the company’s HBM lead against Samsung and Micron, key suppliers to Nvidia’s AI ecosystem. SK hynix shares rose 2.7% in Seoul; the company’s market value topped $1 trillion in May. The flotation trails SpaceX’s record haul but tops the debuts of Saudi Aramco and Alibaba. BofA Securities, Citigroup, Goldman Sachs and J.P. Morgan are leading the offering.
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