SK hynix files to raise up to $29 billion in historic Nasdaq listing

SK hynix plans to raise up to $29.43 billion through a Nasdaq listing, aiming to fund advanced manufacturing projects in South Korea, including a new fab in Yongin and an advanced packaging plant in C... Read original →

SK hynix’s Nasdaq listing is less about capital raising and more a geopolitical maneuver to secure tech sovereignty. Its $7.9B ASML EUV commitment accelerates HBM4 and 3nm-class DRAM, forcing Samsung into a costly memory performance arms race. However, stricter U.S. CHIPS Act scrutiny on overseas fab subsidies may inflate compliance costs for its new Yongin facility. Crucially, AI-driven HBM demand has created a structural supply gap—prices could stay 30%+ above baseline through 2028. The move also highlights Korea’s overreliance on a single lithography supplier: any ASML delivery slippage risks derailing DDR5/HBM roadmaps. Over the next 18 months, TSMC’s CoWoS advanced packaging capacity—not DRAM wafers—will be the true bottleneck in the AI memory stack.