SK Hynix's shares surge 14% in blockbuster US market debut amid AI frenzy

SK Hynix's US-listed ADRs surged 14% on their Nasdaq debut after a $26.5 billion share sale that was over seven times oversubscribed, the second-largest US share sale after SpaceX's recent IPO. The South Korean chipmaker, the world's largest high-bandwidth memory (HBM) producer supplying AI-focused GPUs from Nvidia and AMD, opened at $170 per ADR against the $149 offer price. The blockbuster listing signals resilient investor appetite for AI-driven memory chipmakers despite a recent pullback, with analysts expecting global cloud and AI infrastructure capital expenditure to approach $1.5 trillion by 2027.