SK Hynix Targets U.S. Markets to Fuel AI Memory Expansion

The company expects to price its securities on Thursday, with trading set to commence Friday. Each American depositary receipt will represent one-tenth of a common share, providing a bridge for U.S. investors to access the stock without navigating overseas exchanges. Based on last Friday’s closing price in Seoul, the offering could raise approximately $28 billion.

SK Hynix is currently benefiting from a 200% year-over-year revenue increase, propelled by the intense memory demands of hyperscalers like Amazon, Microsoft, Google, and Oracle. As these firms race to construct AI factories, the resulting scarcity—dubbed “RAMageddon”—has pushed the company’s stock up 260% this year. Apple has already cited this supply crunch as a factor behind recent price hikes for Mac computers and iPads.

To meet demand, SK Hynix and Samsung have committed over $550 billion toward new manufacturing capacity. While Wall Street views these makers as the next major AI-adjacent opportunity, the strategy carries significant risk. Analysts warn that should memory requirements shift before these facilities come online, the market may face a supply glut that could crash prices. Despite these concerns, investors remain focused on the sector’s explosive growth, mirroring the record-breaking trajectory of Micron, which has seen its valuation climb to over $1 trillion.