SK Hynix raises $26.5 billion in record-breaking US IPO on Nasdaq

South Korean chipmaker SK Hynix has raised $26.5 billion through a New York listing of American depositary receipts (ADRs) on the Nasdaq stock exchange, marking the second-largest US IPO ever and the biggest by a foreign firm. The shares are trading under the symbol SKHY, with proceeds earmarked for expanding capacity for the artificial intelligence infrastructure boom. The IPO was seven times oversubscribed, indicating strong demand from global institutions.