SK Hynix Jumps on Nasdaq Listing Plan and AI Memory Demand Boom

Shares of South Korean memory chip leader SK Hynix climbed more than 12% on Thursday after the company announced plans for a U.S. stock market listing and benefited from a positive read-through from Micron’s latest earnings report.

The company plans to issue 17.79 million new shares in the form of American Depositary Receipts (ADRs) through a Nasdaq listing, a transaction that could raise as much as 45.45 trillion won, equivalent to roughly $29.6 billion. Trading is expected to begin on July 10, although the final timetable remains subject to regulatory and market conditions.

SK Hynix said the listing is designed to broaden its investor base and help ensure its valuation better reflects its position in the global semiconductor industry. The company also noted that increasing its presence in the United States, the center of AI innovation, would further strengthen its status as a global technology leader.

Investor sentiment was also boosted by Micron’s latest quarterly earnings, which highlighted continued strength in demand for artificial intelligence-related memory products. Micron reported revenue growth that more than quadrupled year-over-year, signaling that supply remains tight across the AI memory market.

Analysts said Micron’s results are particularly relevant for SK Hynix because both companies are major suppliers of high-bandwidth memory (HBM), a critical component used in advanced AI accelerators and data center infrastructure.

The AI boom has transformed the outlook for memory chip manufacturers, with cloud providers and hyperscale technology companies continuing to invest heavily in AI infrastructure. As a result, demand for advanced memory products has significantly outpaced available supply, creating favorable pricing conditions for industry leaders.

To support future growth, SK Hynix has been expanding its manufacturing footprint. The company is developing a large semiconductor cluster in Yongin, South Korea, which is expected to begin operations in 2027. It is also constructing its first U.S. production facility, a $4 billion advanced chip-packaging plant in Indiana.

Market observers believe the Nasdaq listing could help narrow the valuation gap between SK Hynix and U.S.-listed peers such as Micron Technology by making the stock more accessible to international investors.

The positive sentiment extended across the broader Asian technology sector. Shares of Samsung Electronics gained more than 5%, while TSMC advanced in Taiwan. Japanese semiconductor-related stocks including Tokyo Electron, Advantest and Lasertec also posted strong gains.

With AI infrastructure spending continuing to accelerate worldwide and supply constraints expected to persist for years, investors increasingly view SK Hynix as one of the most direct beneficiaries of the global artificial intelligence investment cycle.