SK Hynix debuts on Nasdaq with 13% first-day surge, raises $26.5B for AI expansion

SK Hynix rose 13 percent on its first trading day on Nasdaq, closing at $168.01, raising $26.5 billion in American depositary receipts priced at $149. The South Korean memory chipmaker, second only to Samsung by market capitalization in its home country, plans to deploy proceeds toward factory expansion and equipment procurement. Chairman Chey Tae-won told CNBC that customer demand for additional capacity far exceeds the company's announced plans to double production capacity within five years, reflecting exponential growth in AI infrastructure needs.