SK Hynix jumps 13% in Nasdaq debut after $26.5 billion ADR sale
Why it matters: The AI-memory leader opened a major new path for US investors to buy into South Korea's chip boom.
SK Hynix rose 13% to close at $168.01 in its first day of trading on Nasdaq after pricing its American depositary receipts at $149 and raising $26.5 billion. The South Korean chipmaker opened at $170 under the ticker SKHYV and is set to switch to SKHY on Tuesday. SK Hynix, South Korea's second-most valuable company after Samsung, has surged as demand for high-bandwidth memory used in Nvidia AI chips outstrips supply. Chairman Chey Tae-won said customers are still asking for more capacity even after the company laid out plans to expand factories and equipment spending.