SK Hynix Raises $26.5 Billion in Wall Street Debut

SK Hynix opened at $170 per share on Wall Street Friday and raised $26.5 billion in its initial public offering. The amount surpassed Alibaba's previous record for the largest debut of a foreign company. The South Korean chipmaker reached a $1 trillion valuation in May and briefly overtook Samsung as South Korea's most valuable company.

SK Hynix holds 29 percent of the global DRAM market as of June 2026.

Hynix is one of three major suppliers of DRAM and high-bandwidth memory. Samsung holds 38 percent of the DRAM market and Micron holds 22 percent. The company supplies components used in AI data centers. Tech firms use DRAM for servers that power AI models and high-bandwidth memory inside high-end AI chips.

Group chairman Chey Tae-won said in June that the company plans to increase memory chip capacity over the next five years. The expansion aims to address a shortage that could last until 2030.