SK Hynix targets a $14 billion listing in the US capitalizing on the AI memory surge.

      SK Hynix is getting ready to go public in the United States in a move that could generate up to $14 billion as early as August, according to sources familiar with the plans. The South Korean memory manufacturer has submitted a confidential application for American depositary receipts, which the US Securities and Exchange Commission is anticipated to review in the coming weeks.

      This week, the company informed investors that the proposal received “tremendously positive” responses, according to insiders. A US listing would expand its investor base far beyond Seoul and connect it directly to the American interest in AI stocks.

      This interest has already had a significant impact on SK Hynix, with its shares skyrocketing around 250 percent in 2026. Last week, the company's market value exceeded $1 trillion, making it Asia’s third trillion-dollar enterprise, following TSMC and Samsung.

      The timing for a US listing is strategic. SK Hynix is the leading supplier of high-bandwidth memory, which is essential for AI accelerators. It has recently entered into a multi-year agreement with Nvidia to collaboratively develop the memory for upcoming chips and possesses the majority of early HBM4 supply.

      Demand has surged sufficiently to influence the broader market. The three major memory manufacturers have redirected most of their production capacity toward AI server memory, resulting in an increase in DRAM prices for smartphones and PCs. A US listing would generate new capital needed to finance the capacity expansion driven by this demand.

      However, the plan has not been finalized. Details regarding the size, timing, and the listing itself are still fluid, and since the filing is confidential, the company has not publicly confirmed specifics. Current estimates for the capital raise range from approximately $10 billion to $14 billion, with the SEC review expected soon.

      The trajectory is evident, as SK Hynix is set to join a wave of companies pursuing US listings to leverage AI demand, a trend that includes everything from SpaceX’s record IPO to a variety of chip and AI entities. The key concern remains whether the memory cycle will remain robust long enough to benefit investors who come in after the significant 250-percent growth.