South Korean chip giant SK Hynix has made headlines with a record-breaking $26.5 billion raised ahead of its Wall Street debut, fueled by soaring demand for AI-related semiconductors. On Friday, the company sold 177.9 million American depositary shares (ADS) at $149 each, marking the largest-ever U.S. listing by a foreign firm—surpassing Alibaba’s $25 billion IPO in 2014.
The offering was more than seven times oversubscribed, reflecting strong investor confidence despite a challenging semiconductor market. Experts say this enthusiasm highlights the real and growing impact of the AI memory chip cycle, with SK Hynix capturing global attention as a top pure-play memory stock.
SK Hynix has ridden the wave of AI demand to achieve record profits, posting a net income of 40.34 trillion won ($26.6 billion) in the first quarter of 2026. Its shares on the South Korean stock exchange have surged around 229% this year, and the company joined the exclusive trillion-dollar market cap club alongside Samsung Electronics and Micron Technology.
Both SK Hynix and Samsung recently committed to a massive $1 trillion AI investment initiative announced by South Korea’s president, aiming to build new chipmaking facilities. This surge in capital chasing AI opportunities has sparked a broader rally in South Korea’s stock market, which has risen over 70% in 2026.
Investors worldwide are eager to tap into the semiconductor supply chain, especially as tech giants face questions about sustaining their AI budgets. While major U.S. tech stocks have softened, SK Hynix and its peers in Asia have emerged as standout winners, reflecting a shift in market sentiment and a growing belief in the long-term potential of AI-driven memory technology.
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