South Korean chipmaker SK Hynix on Monday launched a U.S. share sale aimed at raising 43 trillion won ($28.07 billion) as it seeks to capitalize on strong investor interest in artificial intelligence. The company has also received indications of interest totaling up to $7 billion from major investors.
SK Hynix said that Baillie Gifford Overseas, investment funds managed by Coatue Management and Situational Awareness Partners have each separately indicated interest in buying up to a combined $7 billion worth of SK Hynix’s American depositary receipts, or ADRs.
According to Reuters, SK Hynix will sell 17.79 million new shares through the ADRs on the Nasdaq. 0 ADRs will represent one common share and a Monday filing gave a reference price of 242,500 won per ADR, based on SK Hynix’s July 3 closing price in Seoul.
READ: Samsung, SK Hynix plan $518 billion chipmaking expansion (June 29, 2026)
This comes a week after SK Hynix’s capitalization crossed the $1 trillion market capitalization mark for the first time. This places the company alongside rivals including Samsung Electronics and Micron Technology in the growing trillion-dollar semiconductor club fueled by artificial intelligence investments.
SK Hynix is also among the various Asian chip companies tapping into the strong global demand for AI-related stock. Taiwan’s Unimicron Technology is also seeking to raise about $1.4 billion through a sale of global depositary shares, or shares listed overseas that represent its local stock, according to the Reuters report.
Fortune reported that although SK Hynix’s U.S. stock listing won’t be as big as SpaceX’s $86 billion IPO last month, it could serve as a key barometer for the market. Last month, SK Hyunix said it planned to slow down its AI memory business causing the high-flying Kospi stock index to suffer its fifth worst daily plunge ever.
Analysts at Capital Economics said big swings were especially worrisome, pointing out that such selloffs have previously only happened during bear markets like during the Asian financial crisis, the dot-com bubble, and the Great Financial Crisis.
READ: SK Hynix crosses $1 trillion valuation on AI chip surge (May 27, 2026)
“This volatility is, in our view, evidence of excessive froth and calls into question the sustainability of this rally,” wrote James Reilly, a senior markets economist.
Memory chip stocks have been volatile in recent months as investors question whether the AI boom can be sustained. “We are in the midst of a memory super cycle, with all three major suppliers — Samsung, SK Hynix, and Micron — riding the AI-driven demand wave,” said Di Zhou, portfolio manager at Santa Fe, New Mexico-based Thornburg Investment Management with $60 billion in assets. It owns SK Hynix’s Korean ordinary shares.
She added that SK Hynix’s ADR listing was positive because it would broaden the company’s investor base and potentially narrow its valuation gap with U.S. rival Micron.
“While market volatility has been quite high recently, I would expect demand for SK Hynix shares to remain relatively robust,” said Albert Yong, a managing partner at Petra Capital Management.