SK Hynix begins trading in the U.S. at $120 per ADR, giving American investors direct exposure to the memory-chip maker that supplies Nvidia's next-gen AI chips.
SK Hynix, the South Korean memory chipmaker, is set to begin trading on the U.S. market. The listing gives American investors direct access to a company that controls roughly 30% of the global DRAM market, a segment that has been a key driver of the semiconductor rally this year.
The stock will trade under the ticker SKHY. The company priced its offering at $120 per American depositary receipt, near the top of its marketed range, signaling strong demand from institutional buyers.
For the broader chip sector, the listing adds a new liquid name in memory chips, a space dominated by Samsung and Micron. SK Hynix has been a major beneficiary of the AI-driven demand for high-bandwidth memory, a product used in Nvidia's data-center chips. The company's HBM3E chips are already in production for Nvidia's next-generation Blackwell platform.
Analysts at Morgan Stanley, which led the underwriting, said the U.S. listing should improve SK Hynix's valuation relative to its Seoul-listed shares, where the stock trades at a discount to global peers. The ADR structure allows U.S. funds to hold the stock directly, removing the currency and settlement friction of buying on the Korea Exchange.
The debut comes as the Philadelphia Semiconductor Index has traded in a narrow range for the past month, with investors weighing whether the AI chip cycle has further to run. SK Hynix's U.S. listing gives the market a fresh proxy for that debate.
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