SK hynix to raise W40tr through Nasdaq ADR listing - The Korea Herald

SK Hynix, a South Korean chipmaker, plans to raise approximately 40 trillion won ($26.5 billion) through a Nasdaq listing of its American Depositary Receipts (ADRs), marking the world's second-largest... Read original →

SK hynix’s $26.5B Nasdaq ADR offering isn’t just capital raising—it’s a strategic bid to reclaim valuation sovereignty and secure tech autonomy. Allocating nearly 30% of proceeds to EUV tools will accelerate ASML’s High-NA adoption in DRAM scaling, forcing Micron to hasten its 1β node ramp. Yet this move highlights overreliance on Korea-centric supply chains: tightening U.S. CHIPS Act grant criteria could exclude its new fab from advanced packaging ecosystems if deemed insufficiently ‘U.S.-controlled.’ Mirroring TSMC (Taiwan, China), SK hynix seeks to close its 40% valuation gap with Micron by accessing global institutional capital. Over the next 18 months, memory leaders will shift from capacity wars to capital-efficiency battles—those with Nasdaq liquidity premiums will dominate pricing during the AI-driven HBM4/HBM5 transition window.