AI chip fever returns? SK Hynix share price surges 13% after blockbuster $26.5 billion US listing

South Korean memory chip giant SK Hynix made a strong debut on the Nasdaq, with its ADRs surging 13% after raising $26.5 billion through its US listing, the second-largest US share sale on record after SpaceX's IPO. ADRs opened at $170 compared with the offering price of $149, a 2.7% premium to its average Seoul trading price, and the issue was subscribed more than seven times. The blockbuster listing signals that investor appetite for AI-linked semiconductor stocks remains robust, benefiting memory chip makers like SK Hynix and US rival Micron, which has rallied 711% in the past year amid surging demand for high-bandwidth memory chips used in AI infrastructure.