SK Hynix begins trading on Nasdaq, becoming a $1 trillion company

SK Hynix, the second-most valuable company in South Korea, began trading on Nasdaq under ticker SKHY. The company's stock has surged more than sevenfold over the past year, raising its market capitalization to approximately $1 trillion. As one of three primary memory manufacturers alongside Samsung and Micron, SK Hynix has benefited significantly from surging AI infrastructure demand. The company is the leading producer of high-bandwidth memory, the specialized stacked memory used in NVIDIA's AI chips, and is projected to capture over half of the HBM market this year. SK Hynix plans to raise around $29 billion by issuing American Depositary Receipts to fund new factories and equipment. In June, NVIDIA CEO Jensen Huang visited SK Hynix in Seoul to announce a multiyear partnership, underscoring the strategic importance of the memory producer to the AI industry.