SK hynix files for $28bn US stock listing as AI chip demand surges

South Korean chipmaker SK hynix has filed for a landmark initial public offering on the Nasdaq stock exchange, aiming to raise approximately $28 billion. The move comes as global demand for advanced memory chips, used to power artificial intelligence systems, continues to skyrocket. The company, which is a leading supplier of high-bandwidth memory (HBM) chips—specialized components that allow AI models to process vast amounts of data quickly—hopes to attract international investors. SK hynix’s HBM chips are critical for companies like Nvidia, which designs the processors behind most major AI tools. If successful, the listing would be one of the largest ever on the U.S. exchange. The funds raised are expected to help SK hynix expand its production capacity and stay ahead in the competitive AI chip market. The filing follows a period of strong financial performance for the firm, driven by the global AI boom. Analysts say the move could reshape the memory chip industry by giving SK hynix greater access to U.S. capital and global investors.