SK Hynix Jumps 13% in Record $26.5B Nasdaq Debut on July 10

SK Hynix rose 13% to $168.01 on its first day trading on Nasdaq under the temporary ticker SKHYV on July 10, closing above its $149 IPO price. The South Korean memory chipmaker raised $26.5 billion, surpassing Alibaba’s 2014 record as the largest US debut by a foreign company. The listing reflects soaring demand for high-bandwidth memory used in AI chips, with Chairman Chey Tae-won telling CNBC that customer demand far exceeds the company’s planned capacity expansion.

Why SK Hynix’s debut matters for AI investors

Memory chips are no longer a sleepy semiconductor corner. The AI boom has turned them into a critical bottleneck. SK Hynix and Samsung combined control roughly 50% of the global memory market and have seen valuations rise more than sevenfold in the past year. Chairman Chey Tae-won told CNBC that even after announcing plans to double capacity within five years, customers said it was not enough. The company makes high-bandwidth memory, or HBM, used in Nvidia’s AI chips. Customers include Nvidia, Apple, and other major tech firms racing to build AI data centers.

Record IPO size signals sustained AI appetite

The $26.5 billion raise surpassed Alibaba’s $25 billion IPO in 2014. SK Hynix’s listing is the largest ever US debut by a foreign corporation, granting American investors direct access to the memory chip trade. The offering was priced at $149 per share and raised capital for aggressive expansion into new factories and equipment. The strong demand underscores global appetite for AI infrastructure despite recent volatility in South Korean stocks, which have triggered multiple trading halts this year.

Symbol change and trading timeline

SK Hynix began trading on a when-issued basis under ticker SKHYV on July 10. The stock will switch to the permanent ticker SKHY and begin regular trading on Monday, July 13, 2026. Settlement of when-issued trades is expected July 14. The company’s American depositary receipts allow US investors to buy shares in dollars without opening foreign accounts or managing currency conversions.

The boom-or-bust question

SK Hynix and Samsung have posted record profits as AI demand has consumed the world’s memory chip supply. Both companies have committed to heavy manufacturing investment, backed by South Korea’s government. However, retail investor enthusiasm for the AI trade has also driven extreme market swings. The real test is whether AI demand sustains long enough to justify the massive capacity buildout both chipmakers are undertaking.

Final Thoughts

SK Hynix’s record debut signals that global appetite for AI infrastructure remains strong despite recent market volatility. The $26.5 billion raise and 13% first-day pop reflect the critical role memory chips now play in the AI buildout. Investors betting on sustained AI growth have a new direct play on the memory shortage.

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