Woofun AI reports that SK Hynix commenced trading on the Nasdaq via American Depositary Shares, with shares climbing approximately 17% post-opening to a market capitalization of $1.28 trillion. The offering generated $26.5 billion, establishing a new benchmark for overseas issuers in the U.S., exceeding Alibaba’s $21.8 billion raise in 2014 and ranking second only to SpaceX’s $75 billion financing in U.S. history.

The final issuance price was set at $149, representing a 3.1% premium over the previous Korean market close. Despite the offered shares constituting less than 3% of total market value, institutional subscription multiples exceeded seven times. As the holder of 56.4% of the global HBM market share and a key Nvidia supply chain partner, SK Hynix’s listing addresses the absence of major AI storage leaders on U.S. exchanges.