South Korean chipmaker SK Hynix has completed a share offering in the United States that ranks as the second-largest IPO in US history, trailing only SpaceX's record-setting listing.
The proceeds are expected to fund the construction of new semiconductor factories as global demand for advanced memory chips continues to surge, driven largely by the ongoing AI infrastructure boom. SK Hynix has emerged as one of the key suppliers of high-bandwidth memory used in AI accelerators, putting it in direct competition for capacity with other major chipmakers racing to keep pace with demand.
Industry analysts say the scale of the raise underlines just how capital-intensive the current AI hardware cycle has become, with chipmakers needing to commit billions of dollars years in advance to secure manufacturing capacity.
The listing adds to a string of major moves in the semiconductor space this year, as manufacturers globally rush to expand output in response to what many are calling an unprecedented supercycle in AI-related chip demand.