Why did SK Hynix achieve a record-breaking IPO?

The growing demand for memory chips in AI data centers and high-performance computing bolstered SK Hynix's financial performance, enabling the company to raise $26.5 billion on Wall Street and set a record for foreign IPOs.

Which companies are the primary consumers of SK Hynix's chips?

Major customers include tech giants like OpenAI, Microsoft, and Google, which use DRAM and HBM for servers and AI models, as well as Nvidia, which integrates HBM into its high-performance chips.

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SK Hynix Debuts on Wall Street with Over $1 Trillion Market Cap

July 10, 2026

Photo: The Verge

Quick answer

SK Hynix executed the largest IPO by a foreign company on Wall Street, raising $26.5 billion at an initial price of $170 per share.

South Korean memory chip manufacturer SK Hynix completed the largest initial public offering (IPO) by a foreign company in New York Stock Exchange history. The shares debuted at $170 each, raising a total of $26.5 billion, surpassing Alibaba's previous record. This milestone was driven by a sharp increase in demand for artificial intelligence components, where SK Hynix's products play a pivotal role.

In May 2024, the company reached a market capitalization of $1 trillion, briefly overtaking Samsung to become South Korea's most valuable company. The primary growth drivers were DRAM and high-bandwidth memory (HBM), which are essential for AI data centers and high-performance computing. Tech giants such as OpenAI, Microsoft, and Google are actively procuring these components for their servers, while HBM is integrated into advanced chips, including Nvidia's solutions.

According to Counterpoint analysts, as of mid-2026, SK Hynix holds a 29% share of the global DRAM market, behind Samsung (38%) and ahead of Micron (22%). Despite the dominance of these three manufacturers, memory demand continues to outpace supply, particularly from the AI industry. SK Group Chairman Chey Tae-won stated that the company plans to expand production capacity over the next five years to alleviate the shortage, which may persist until 2030.

Common questions

Why did SK Hynix achieve a record-breaking IPO?: The growing demand for memory chips in AI data centers and high-performance computing bolstered SK Hynix's financial performance, enabling the company to raise $26.5 billion on Wall Street and set a record for foreign IPOs.
What is SK Hynix's market share in DRAM?: According to Counterpoint, as of June 2026, SK Hynix holds a 29% share of the global DRAM market, trailing Samsung (38%) and leading Micron (22%).
Which companies are the primary consumers of SK Hynix's chips?: Major customers include tech giants like OpenAI, Microsoft, and Google, which use DRAM and HBM for servers and AI models, as well as Nvidia, which integrates HBM into its high-performance chips.

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