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US investors to gain access to SK Hynix, another memory maker riding the AI boom

US investors to gain access to SK Hynix, another memory maker riding the AI boom

September 6, 2026
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US investors to gain access to SK Hynix, another memory maker riding the AI boom

SK Hynix, a leading South Korean memory chip manufacturer and key competitor to Samsung and Micron, announced plans to offer approximately 17.8 million shares in a U.S. initial public offering on Monday. If investor demand meets expectations, the company could raise roughly $28 billion, based on its recent closing price in Seoul, according to Bloomberg.

The company will issue American depositary receipts (ADRs), which allow U.S. investors to purchase foreign stocks without accessing overseas exchanges directly. Each ADR will represent one-tenth of a common share. Pricing is expected on Thursday, with trading to commence on Friday.

Similar to Micron, SK Hynix is benefiting from an AI-driven surge in both revenue and stock performance. The company reported first-quarter revenues nearly 200% higher than the same period last year, with its stock rising approximately 260% year-to-date. This growth is driven by the high memory requirements of AI systems. As major tech firms like Amazon, Microsoft, Google, and Oracle expand their AI infrastructure and new data centers proliferate, demand for memory chips—including high-bandwidth memory (HBM), DRAM, and NAND—has exceeded supply. This shortage, often referred to as “RAMageddon,” has already prompted Apple to increase prices on Mac computers and iPads.

South Korean tech giants, led by SK Hynix and Samsung, have committed to investing over $550 billion to expand manufacturing capacity. However, this strategy carries significant risk: by the time new facilities come online, AI memory requirements may shift, potentially leading to oversupply and price declines. Nevertheless, Wall Street continues to seek the next Nvidia, with memory chipmakers currently viewed as the closest alternatives.

Micron, the primary U.S. competitor, has seen its stock surge nearly 700% over the past year, reaching a valuation exceeding $1 trillion. This growth is fueled by record-breaking AI-driven demand for memory products and revenue.

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