SK hynix targets $26.5 billion raise in US Nasdaq listing amid AI demand

South Korean semiconductor firm SK hynix announced the pricing of its U.S. initial public offering on Friday, targeting a raise of roughly $26.5 billion. The company will list about 18 million shares on the Nasdaq, a transaction that would rank among the largest equity offerings ever conducted on the exchange. The pricing reflects strong investor demand driven by the firm’s position as a leading supplier of advanced memory chips used in artificial‑intelligence (AI) data centers.

SK hynix’s profit surge has been attributed to the global race to build AI‑focused data facilities, which has heightened demand for high‑performance memory solutions. By tapping the buoyant AI market, the chip maker aims to capitalize on heightened capital flows into technology stocks, while the proceeds are expected to fund further expansion of its manufacturing capacity and research initiatives. The listing underscores the broader trend of semiconductor companies leveraging AI‑related growth to attract sizable funding in international markets.