South Korean memory chip giant SK Hynix is preparing for a landmark $29 billion U.S. listing on Nasdaq, potentially the largest-ever first-time U.S. share sale by an overseas company. As one of the “big three” AI memory chip manufacturers alongside Samsung and Micron, its debut could impact market liquidity. Trading is scheduled to begin on July 10, 2026, with the company issuing new American Depositary Receipts to fund expansion amid a global AI chip shortage.
According to reports, SK Hynix will begin U.S. trading on Friday, July 10, 2026. The company aims to issue 17.79 million new American Depositary Receipts, where 10 ADRs will represent one common share.
The proceeds from this listing are intended for expanding manufacturing capacity and purchasing advanced chipmaking equipment. This move comes as the global AI surge has significantly reduced chip availability, particularly for AI memory chips.
SK Hynix is one of the primary rivals of Micron, the only U.S. company among the big three AI memory chip manufacturers. With SK Hynix making a U.S. debut, there is a possibility of liquidity drainage from other companies in the sector, including Micron.
The market situation has been contentious, with some accusing the big three of artificially pumping up prices. This led to Micron, SK Hynix, and Samsung facing a class action lawsuit filed by 17 plaintiffs who allege coordinated price-fixing.
Alternatively, the new listing could also attract additional investment to the sector, potentially benefiting competitors. Micron’s stock could continue its recent upswing due to heightened market interest and competition.
