SK Hynix to Float US Shares This Year to Feed AI Memory Boom

SK Hynix Inc. seeks to list its American Depositary Receipts in what may be one of the biggest US debuts by a foreign company ever, part of the chipmaker’s bid to keep pace with artificial intelligence’s voracious demand for memory.

The advanced memory supplier to Nvidia Corp. aims to make an offering in New York in the second half of the year, Chief Executive Officer Kwak Noh-Jung told shareholders during an annual general meeting on Wednesday. When asked if SK Hynix seeks to raise as much as 15 trillion won ($10 billion) as reported by local media, Kwak said no decision has been made, but that the company aims to boost its value in line with other AI hardware suppliers.