Nvidia's Top Memory Supplier SK Hynix Lists on Wall Street, Raises $26.5 Billion in Record-Breaking IPO for Foreign Companies

Nvidia's Top Memory Supplier SK Hynix Lists on Wall Street, Raising $26.5 Billion in Record IPO for Foreign Companies

South Korean semiconductor giant SK Hynix — one of the world's largest memory chip suppliers — officially began trading on Wall Street on Friday, as the ongoing artificial intelligence (AI) boom continues to drive surging demand for memory chips.

A Historic Wall Street Debut

According to reports from the Associated Press and CNN, SK Hynix priced its shares at $170 per share at opening, raising a total of $26.5 billion in the listing — surpassing the previous record held by Alibaba for the largest U.S. IPO by a foreign company.

Valuation Tops $1 Trillion, Briefly Surpassing Samsung

SK Hynix has posted remarkable market performance in recent months. In May of this year, its valuation surpassed $1 trillion, briefly overtaking Samsung to become South Korea's most valuable publicly listed company.

AI Wave Drives Memory Demand Surge

SK Hynix is one of the three major companies globally positioned to benefit most from the explosive growth in demand for DRAM and High-Bandwidth Memory (HBM). As AI infrastructure is deployed at massive scale, these memory components have become indispensable to the technology supply chain. SK Hynix plays a particularly critical role as the primary memory supplier for Nvidia's GPUs, cementing its position at the heart of the AI hardware ecosystem.

This article is based on reporting originally published by The Verge. For the full report, please refer to the original source.

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