SK Hynix raises $26.5 billion in US market debut
The South Korean memory-chip maker opened at $170 a share as AI demand keeps pressure on global RAM supplies.
By James Whitfield · Staff Writer
3 min read
SK Hynix began trading on Wall Street on Friday, raising $26.5 billion in a debut tied to surging demand for memory used in AI systems. The Associated Press and CNN reported that the South Korean chipmaker opened at $170 a share and topped Alibaba’s mark for the largest US debut by a foreign company.
The listing puts a brighter spotlight on a company that sits near the center of the AI hardware supply chain. SK Hynix is a major supplier of DRAM and high-bandwidth memory, the components used in servers and advanced AI chips, including Nvidia’s Blackwell Ultra, according to The Verge.
AI demand drives memory makers higher
Memory chips have become a key constraint for companies building AI data centers. The Verge reported that OpenAI, Microsoft and Google use DRAM in servers that run AI models, while HBM is packaged with high-end accelerators used for AI workloads.
That demand has lifted SK Hynix and its peers while also tightening supply for other electronics makers. The Verge reported that the three largest memory suppliers have been giving priority to higher-paying AI customers over buyers that need chips for phones, computers, consoles and other devices.
Counterpoint data cited for June 2026 put Samsung at 38 percent of the global DRAM market, SK Hynix at 29 percent and Micron at 22 percent. The figures show how concentrated the market remains even as demand spreads across AI infrastructure and consumer electronics.
SK Hynix has gained ground on Samsung
SK Hynix reached a $1 trillion valuation in May, CNBC reported. Fortune reported that the company briefly passed Samsung to become South Korea’s most valuable company in June.
The Wall Street debut adds to that run. AP and CNN reported that the $26.5 billion raise exceeded Alibaba’s record for a foreign company debut, a sign of investor demand for companies tied to AI hardware spending.
SK Hynix is part of South Korea’s SK Group. Bloomberg reported that SK Group chairman Chey Tae-won said in June that the company plans to expand memory-chip capacity over the next five years to address a shortage that could last until 2030.
The pressure on supply has already pushed memory pricing and availability into broader tech markets, according to The Verge. Device makers that rely on DRAM for consumer products are competing with AI firms that need large amounts of memory for data-center servers.
For investors, the offering marks a bet that AI infrastructure spending will keep supporting demand for memory chips. For hardware makers outside the AI sector, the same demand raises the risk that supplies remain tight while SK Hynix, Samsung and Micron build more capacity.
This story draws on original reporting from The Verge.