SK Hynix plans to raise $29 bn through its first U.S. listing, targeting American depositary receipts on Nasdaq next month. The move follows a sharp rally in the chipmaker’s shares, driven by its dominance in high‑bandwidth memory (HBM) that fuels the AI boom. Investors eye the listing as a sign that South Korean semiconductors are gaining global traction.

HBM shortages and weaker DRAM and NAND prices have pushed SK Hynix to capture more than half of the global HBM market, eclipsing rivals like Samsung. The company supplies Nvidia’s flagship GPUs and recently landed a deal with Microsoft for its proprietary AI chips, cementing its role in the supply chain that underpins cloud services and data centers.

By listing in the U.S., SK Hynix joins a cohort of Asian firms that have sought larger capital markets to fund growth amid tightening competition. The deal will make it one of the biggest Asian listings ever, surpassing Alibaba’s 2014 debut, and signals that chipmakers are betting heavily on AI to sustain premium pricing and market share for investors today worldwide and analysts globally.