SK Hynix $28B U.S. Share Sale Fuels AI Expansion

SK Hynix has launched a $28 billion share sale in the United States, aiming to capitalize on booming demand for artificial intelligence technology. The South Korean memory chip maker plans to use the proceeds to expand its global investor base and fund growth initiatives.

The offering, one of the largest by a foreign company in the U.S. market, underscores the company's bet on AI-driven demand for high-bandwidth memory chips. SK Hynix has been a key supplier to AI leader Nvidia, benefiting from the surge in data center construction and AI model training.

The share sale comes as SK Hynix reported strong earnings in recent quarters, driven by AI chip sales. The company is investing heavily in new production capacity and research to maintain its competitive edge in the memory chip market.

Analysts note that the U.S. listing could help SK Hynix attract a broader range of investors and reduce its reliance on the Korean market. The company's American depositary shares are expected to begin trading on the New York Stock Exchange.