SK Hynix has priced its US American Depositary Receipt offering at $149, raising about $26.5 billion before Nasdaq trading begins under $SKHY (SK Hynix). Demand was reportedly more than seven times the shares available, showing strong investor interest in AI infrastructure.

SK Hynix is a major supplier of high-bandwidth memory, or HBM, used with advanced processors in AI data centres.

The deal matters because chip stocks have faced questions about whether hyperscalers can maintain the pace of AI spending. An oversubscribed offering does not prove every AI stock is cheap, but it shows investors view advanced memory as strategically important.

Winners

HBM and advanced memory

$SKHY (SK Hynix) is the clearest potential winner because the listing expands its investor base and provides capital for manufacturing grow ...