SK Hynix raised $26.5 billion on the Nasdaq on July 10, 2026, marking the largest share sale by a foreign company in US history. The South Korean memory chipmaker sold 177.9 million American depositary receipts at $149 each, with the share price climbing as much as 17% on its first day of trading. The South Korean won strengthened from around 1,501.4 to approximately 1,486 per dollar, reaching its highest level in two months, as analysts expect SK Hynix to convert a portion of the dollar proceeds back into its domestic currency. SK Hynix, the world’s second-largest memory chipmaker, saw its stock rise more than 229% in the first half of 2026 driven by AI-related demand and its key role as a supplier of high-bandwidth memory chips to Nvidia. The deal size grew from an initial estimate of $14 billion to over $29 billion before settling at $26.5 billion.
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