SK hynix US listing — AI IPO watch

The HBM leader listing ADSs on Nasdaq (reported ticker SKHY)

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 subject to amendment until pricing.

Listed names in the same lane

MUNVDASNDK

Watch the whole space on the AI IPO tracker, see today's tape on the terminal, or gauge froth with the AI bubble-risk index.

Filing existence, form types and dates verified on SEC EDGAR. Deal terms marked "reported" come from the filing via financial media and remain subject to amendment until pricing. Nothing here is an offer, a prediction of a listing, or financial advice.