SK Hynix Raises $26.51 Billion in U.S. Debut, Shares Close Higher

Chip maker SK Hynix finished its first day of trading on the U.S. stock market with gains. The South Korean company raised $26.51 billion in its initial public offering (IPO), marking one of the largest listings by a foreign firm in the United States this year. Shares closed higher than the offering price, signaling strong investor demand for the memory chip manufacturer. The listing provides SK Hynix with access to deeper capital markets as it expands production of high-bandwidth memory chips used in artificial intelligence systems.