SK hynix US listing — AI IPO watch
The HBM leader listing ADSs on Nasdaq (reported ticker SKHY)
Filed · F-1 (amended 2026-07-06)What it is
SK hynix — the world's leading high-bandwidth-memory maker and Nvidia's primary HBM supplier — has filed a Form F-1 (foreign private issuer registration, CIK 0002120882, amendments through July 6, 2026) to list American Depositary Shares on Nasdaq while its primary listing stays in Seoul. This is not price discovery: the stock already trades on the KRX. It is the AI-memory leader raising US capital for the build-out.
The deal, as reported
Reported from the filing: ~177.9M ADSs (each 1/10th of a Korean share), net proceeds around $28B earmarked for capex, with the raise capped near 2.5% of the company because Korean holding-company law requires SK Square to keep at least a 20% stake. Reported non-binding cornerstone interest includes Baillie Gifford, Coatue and Situational Awareness Partners — the fund tracked on Santro's Aschenbrenner page. Treat all terms as as priced on 2026-07-10.
Our analysis
Read the full breakdown: SK Hynix's U.S. Listing Isn't "Another AI IPO." It's a Ticker on the Memory Bottleneck. — the bull case, the bear case, and the read-through for NVDA, MU, DRAM and the wider memory/storage tape. Part 2: what the ADR means for ETF flows →
Listed names in the same lane
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SK hynix IPO — frequently asked
Is SK hynix going public?
SK hynix is already a public company — its shares trade on the Korea Exchange in Seoul. The US move is a secondary listing: the company has filed a Form F-1, amended July 6, 2026, to list American Depositary Shares on Nasdaq. Filing existence is verified on SEC EDGAR.
When is the SK hynix US listing (IPO) date?
The page reports no listing date. The status is Filed: an F-1 registration with amendments through July 6, 2026, verified on SEC EDGAR. All reported deal terms remain as priced on 2026-07-10.
What is SK hynix's valuation and how much would the US listing raise?
No standalone IPO valuation is stated. The reported deal size is net proceeds around $28 billion via roughly 177.9 million ADSs, each one-tenth of a Korean share — capped near 2.5% of the company, as Korean holding-company law requires SK Square to keep at least a 20% stake. Terms remain as priced on 2026-07-10.
What ticker and exchange will SK hynix use in the US?
The reported ticker is SKHY, for American Depositary Shares on Nasdaq, while the primary listing stays in Seoul on the KRX. The ticker is a reported term, not EDGAR-verified — only filing existence, form types and dates are verified on SEC EDGAR — and remains as priced on 2026-07-10.
What are related public AI stocks?
The page names three listed tickers in the same lane: MU, NVDA and SNDK. SK hynix is described as the world's leading high-bandwidth-memory maker and Nvidia's primary HBM supplier, so these public names sit along the same AI-memory supply chain. This is educational context, not a recommendation.
Answers reflect public reporting as of the page date and are subject to change. Not financial advice.
Filing existence, form types and dates verified on SEC EDGAR. Deal terms marked "reported" come from the filing via financial media and remain as priced on 2026-07-10. Nothing here is an offer, a prediction of a listing, or financial advice.