Artificial intelligence transformed a struggling chipmaker into a global powerhouse.
SEOUL, SOUTH KOREA — July 2026. SK Hynix is preparing to begin trading on Nasdaq after rising from near-collapse to a valuation exceeding $1 trillion. The South Korean semiconductor company expects to raise approximately $26.5 billion through one of the largest share offerings in history. Trading is scheduled to begin on July 10.
The company will issue American depositary receipts, giving U.S. investors direct access to its shares without trading on the South Korean market. Investor demand reportedly exceeded the available securities more than seven times. The offering will finance new factories, advanced equipment and greater production capacity for artificial-intelligence infrastructure.
SK Hynix controls around 60 percent of the high-bandwidth memory market. These specialized chips transfer data rapidly between processors and are essential for the advanced systems powering AI data centers. Its close relationship with Nvidia has placed the company at the center of the global technology expansion.
The success represents a dramatic reversal for a business once burdened by debt and severe instability. After the Asian financial crisis, the former Hyundai Electronics eliminated jobs, sold assets and separated from its parent group. SK Group acquired the struggling company in 2012 and invested heavily in high-bandwidth memory when the technology remained expensive and commercially uncertain.
Despite its extraordinary growth, SK Hynix remains exposed to the semiconductor industry’s cyclical nature and concerns over excessive AI investment. Its shares have recently experienced volatility after increasing several hundred percent over the past year. The Nasdaq listing could narrow the valuation gap between Korean technology companies and their American competitors.
SK Hynix survived through restructuring—and conquered the AI era through a technological gamble.