Korea’s SK Hynix shares make stellar US market debut, rocket 13% on continued AI optimism

South Korean memory chipmaker SK Hynix made a strong US market debut with its ADRs opening at $170, up about 14% from the $149 issue price, marking the second-largest US share sale after SpaceX's IPO. The offering was subscribed more than seven times, with proceeds expected to fund new factory construction and broaden the company's investor base. The listing reflects continued investor enthusiasm for AI-driven chipmakers, though chip stocks have softened recently after an extended rally; SK Hynix trades at around 5.8 times forward earnings versus about 7 times for US rival Micron.