SK Hynix has opened a $28bn Nasdaq IPO, positioning itself as Bombshell among Asian listings in New York. The South Korean memory‑chip maker raised $63bn in revenue last year, with profit reaching $28bn, driven by a 47% jump in AI‑centered demand.

Shares have surged more than 750% over the past year on the Kospi, bringing market cap to Won 1,663tn ($1.1tn). The IPO will issue 17.79mn ADS, priced at $158 per share, ensuring that majority shareholder SK Square keeps over 20% of the equity.

Leopold Aschenbrenner’s hedge fund, Situational Awareness LP, along with Baillie Gifford, signals a potential $7bn stake in the new ADS. The proceeds will fund expansion of fabrication lines in Korea and purchase EUV lithography scanners from ASML, fueling a $600bn capacity push.

SK Hynix’s lead in HBM3 technology, supplying roughly half of Nvidia’s high‑bandwidth memory, aligns the IPO with the AI boom. For investors, the deal offers exposure to a company that has outpaced Samsung, while regulators focus on maintaining SK Square’s control and market stability.