Nvidia's Biggest RAM Supplier SK Hynix Debuts on Wall Street with Record-Breaking IPO
South Korean chipmaker SK Hynix made its Wall Street debut on Friday with shares opening at $170, raising $26.5 billion and surpassing Alibaba's record as the largest initial public offering by a foreign company in the U.S.
AI Demand Fuels Massive Stock Debut
SK Hynix, one of the world's largest memory chip suppliers, began trading on Wall Street on Friday. The stock opened at $170 per share, and the company raised $26.5 billion in total, marking the largest initial public offering (IPO) by a foreign company in U.S. history, surpassing China's Alibaba.
Trillion-Dollar Valuation and Market Position
The company had already reached a trillion-dollar valuation in May, briefly becoming South Korea's most valuable company ahead of Samsung. SK Hynix is one of three major global producers of DRAM and high-bandwidth memory (HBM). These components have become essential for building AI data centers, as tech giants like OpenAI, Microsoft, and Google use DRAM to power their servers, while HBM is packaged inside high-end AI chips such as Nvidia's Blackwell Ultra.
Market Share and Demand Challenges
According to Counterpoint, as of June 2026, SK Hynix held 29% of the global DRAM market, Samsung 38%, and Micron 22%. Despite this, memory demand still outpaces supply, as manufacturers prioritize high-paying AI customers over device makers who need chips for phones, computers, consoles, and more. SK Group chairman Chey Tae-won said in June that the company plans to expand memory chip capacity over the next five years to address a shortage that could last until 2030.
