South Korean chipmaker SK hynix has launched a major U.S. listing expected to raise about $28 billion, according to its regulatory filing, as global demand for AI infrastructure, semiconductors and advanced memory chips continues to accelerate. The offering is expected to be one of the world’s largest share sales.

The company said it intends to use the net proceeds primarily for capital expenditures related to new production facilities in South Korea and the purchase of advanced semiconductor manufacturing equipment, including extreme ultraviolet (EUV) lithography systems.

SK hynix, a key supplier of high-bandwidth memory (HBM) chips for NVIDIA’s AI accelerators, also outlined its plans to strengthen customer relationships and develop customized HBM products. In the filing, the company said it announced a technology partnership with NVIDIA in June 2026 to advance next-generation memory aligned with NVIDIA’s AI infrastructure roadmap, including the supply of memory semiconductors. They expect to collaborate on memory technology for NVIDIA platforms such as Vera Rubin AI supercomputers, Vera CPUs, RTX-powered PCs and Jetson Thor robotic computing platforms.

SK hynix also plans to integrate NVIDIA’s software stack, including CUDA-X, PhysicsNeMo and Omniverse, to accelerate semiconductor design, simulate manufacturing processes and develop digital twins for autonomous fabrication operations.

The company is also investing in HBM4E, its next-generation DRAM for AI, alongside future generations of DRAM to support evolving AI workloads. DRAM (Dynamic Random Access Memory) is a type of memory that temporarily stores data that needs to be accessed quickly in a computing system.

On June 18, SK hynix announced it had shipped samples of its 12-layer HBM4E to major customers and said it would work closely with partners toward mass production.

“These efforts, pursued in close collaboration with key AI ecosystem partners, are strategically aimed at addressing evolving AI market demands that are shifting from general-purpose performance to inference efficiency and cost optimization, thereby ensuring that our HBM solutions continue to support advancements in performance of AI accelerators,” the company said in the filing.

The filing also highlights SK hynix’s ongoing capacity expansion projects in South Korea, including the Yongin Semiconductor Cluster, where the company is building an integrated complex of next-generation fabrication plants and research and development facilities. Construction of the first fab began in February 2025, with the Phase 1 cleanroom expected to open in the first quarter of 2027. The company is also constructing the approximately $13 billion P&T7, an advanced packaging plant in Cheongju, which is expected to be completed by the end of 2027.

In addition, SK hynix is building an advanced packaging facility in Indiana, United States, which is expected to begin operations in the second half of 2028.

The company said it aims to become a “full-stack AI memory creator,” reflecting its broader strategy across AI memory development, manufacturing and packaging.

The filing also points to broader developments across the AI ecosystem, citing Google’s TurboQuant quantization algorithms as an example of how advances in AI models could significantly improve memory efficiency for large language models (LLMs) and vector search engines, enabling high-performance GPUs to process substantially more data using the same amount of physical memory. SK hynix said these evolving demands are reinforcing its focus on next-generation HBM and advanced DRAM technologies.

The offering follows a strong rally in SK hynix shares this year, reflecting growing investor confidence in companies powering the global AI ecosystem.

Under the offering, SK hynix will issue 17.79 million new shares in the form of American Depositary Receipts (ADRs) on Nasdaq, with every 10 ADRs will representing one common share. The final price of the New York listing is due to be set on Thursday, ahead of the stock starting trade on Friday, as per regulatory filings

Separately, on June 22, SK hynix overtook Samsung Electronics to become South Korea’s most valuable listed company, driven by strong demand of AI memory chips.

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