SK Hynix raises $26.5B in the biggest foreign IPO in US history, is urged to build new US fabs

SK Hynix raised $26.5 billion in the largest-ever US listing by a foreign company, surpassing Alibaba’s 2014 IPO, as demand for AI-related memory chips fuels investor enthusiasm. The company’s shares opened well above the IPO price, reflecting strong appetite for its role as a key supplier of high-bandwidth memory used in AI processors.

The listing shows how the AI infrastructure boom is reshaping capital markets, with memory suppliers now commanding investor attention once reserved mainly for cloud and GPU leaders. SK Hynix’s decision to direct proceeds largely toward South Korean facilities may intensify pressure for more US chip manufacturing as governments push to localize strategic semiconductor supply chains.