SK Hynix said it plans a confidential filing for a U.S. stock market listing in the second half of 2026, a move that could raise up to $14 billion and become one of the largest offerings in recent years.
The South Korean chipmaker said it aims to complete the listing within 2026, though the final size, structure and timing have not yet been determined. A source familiar with the discussions said the company may sell around 2% to 3% of its shares, using the proceeds to help finance new chip plants in Yongin, South Korea, and Indiana in the United States.
The plan comes as SK Hynix continues to expand production to meet strong demand for memory chips used in artificial intelligence data centers. The company is one of the world’s biggest memory chipmakers and has been increasing investment as AI infrastructure spending rises globally.
Management has also framed the U.S. listing as a way to achieve a better market valuation by being compared more directly with American semiconductor peers. Analysts say such a move could highlight SK Hynix’s profitability and technological strengths more clearly for global investors.
At the same time, the plan has drawn criticism from some shareholder advocates, who argue that issuing new shares could dilute existing investors. They have instead called for buybacks and alternative listing structures that would preserve shareholder value while still supporting a U.S. market debut.