SK Hynix ADRs priced at $149 begin trading Friday on Nasdaq. The HBM leader, a key Nvidia supplier, has seen valuation surge sevenfold on AI demand.
SK Hynix American depositary receipts start trading on the Nasdaq on Friday, giving U.S. investors direct access to South Korea's second-largest company by market value.
The ADRs were priced at $149. They will trade under the ticker SKHYV and SKHY as of Tuesday.
SK Hynix trails only Samsung in South Korea. SK Hynix makes memory chips used in phones and PCs. Its customers include Nvidia and Apple.
Memory was a slow-growing corner of the semiconductor industry for years. The artificial intelligence boom changed that. Demand for AI infrastructure has created a shortage of high-performance memory and sent prices soaring. SK Hynix's market value has climbed more than sevenfold over the past year.
SK Hynix leads in high-bandwidth memory, or HBM, the type used in Nvidia's AI chips. HBM is made by stacking multiple layers of traditional DRAM. SK Hynix is building a $4 billion advanced packaging plant in Indiana to assemble some of that HBM in the U.S. The bulk of its expansion will stay in South Korea. That includes a $390 billion cluster of chip fabrication plants in Yongin.
The listing comes as the memory market enjoys a cyclical upswing driven by AI spending. Nvidia is SK Hynix's biggest customer for HBM.
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