SK Hynix Raises $26.5B in the Biggest Foreign IPO in US History, Urged to Build American Fabs
South Korean chipmaker SK Hynix shattered records with a $26.5B US IPO — the largest foreign debut in American history. The HBM memory giant and key NVIDIA supplier is now being urged to build semiconductor fabs on American soil.
Historic Move on Wall Street
South Korean chipmaking giant SK Hynix made history on July 10, 2026, raising $26.5 billion in the largest foreign IPO in US history. This surpasses Alibaba's previous record of $25 billion from 2014. The company sold 177.9 million American Depositary Receipt (ADR) shares at $149 each, with shares opening 14% above the IPO price.
Historically, Korean companies trade at a discount internationally — a phenomenon called "Korea Discount." SK Hynix's record IPO shows Wall Street is ready to fund hardware companies, not just software.
What Makes This IPO Special
SK Hynix is the key supplier of HBM (High Bandwidth Memory) for NVIDIA's AI chips. The US Commerce Secretary is urging the company to build semiconductor fabs on American soil under the CHIPS Act, which would help reduce dependence on Asian manufacturing.
Implications for AI Industry
This IPO signals that AI hardware investment is entering a new phase. The $26.5 billion raised will likely fund new fabrication capacity, R&D for next-generation memory, and expansion into US markets. For the Georgian tech ecosystem, this means AI chip prices may stabilize as supply chains diversify.