SK Hynix to list on Nasdaq with 29 billion ADR offering on July 11

SK Hynix poised for one of the largest foreign listings in U.S. history as it debuts on Nasdaq on Friday with a $29 billion ADR offering that has already been oversubscribed sevenfold. The South Korean memory-chip giant will list American Depositary Receipts on the Nasdaq exchange starting 11 July 2026, marking a landmark move into U.S. capital markets that underscores the surging global appetite for AI-enabling semiconductors.
The sevenfold oversubscription—driven by demand from institutional investors seeking exposure to the AI supply chain—positions the deal among the largest foreign IPOs ever staged in the United States, according to Handelsblatt’s Asia correspondent Martin Kölling . Proceeds from the ADR issuance, expected to total up to $29 billion, will be deployed into new fabrication plants and advanced memory production lines, accelerating SK Hynix’s push to meet soaring demand for high-bandwidth memory used in AI data centers.
The listing comes as the AI chip sector continues its rapid expansion. Cerebras, the U.S. AI chip specialist, separately announced plans on 9 July 2026 to invest “several billion dollars” in Europe, aiming to install 200 MW of AI compute capacity by the end of 2027 and directly challenging Nvidia’s dominance in the region . Meanwhile, Micron confirmed a strategic investment of up to $3 billion in the U.S. chip supply chain, further intensifying the global race to scale AI infrastructure .
SK Hynix’s Nasdaq debut follows a period of heightened geopolitical and market volatility. The company had initially planned its U.S. listing earlier in 2026, but the process was delayed by broader macroeconomic uncertainty and shifting investor sentiment toward large-cap tech and semiconductor equities. The successful pricing and oversubscription signal renewed confidence in high-growth technology segments despite recent pullbacks in AI-related stocks.
Industry analysts note that the listing reflects a strategic pivot toward U.S. investors, who are increasingly focused on companies positioned to benefit from AI-driven demand. “The AI memory cycle remains robust,” said Kölling. “SK Hynix is leveraging its leadership in HBM and GDDR6 to capture share in a market where supply remains tight.”
The ADR structure allows international investors to trade SK Hynix shares directly on Nasdaq, enhancing liquidity and broadening its shareholder base. The company’s existing shares will continue to trade on the Korea Composite Stock Price Index (KOSPI), maintaining dual-market access.
With the listing set to commence on 11 July 2026, SK Hynix joins a growing cohort of Asian tech giants turning to U.S. markets for capital and visibility. The move underscores the pivotal role of memory semiconductors in the AI era and signals a new chapter in global tech financing.
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