Memory chip giant SK hynix could help end ‘RAMmageddon’ with blockbuster US IPO

SK hynix, already listed on the KOSPI, confidentially filed a Form F‑1 with the U.S. SEC for a potential U.S. listing targeting the second half of 2026.

The filing could raise roughly $10–14 billion, potentially by issuing about 2% in new shares.

A U.S. listing could increase trading value and help narrow valuation multiples below those of U.S.-listed semiconductor peers; TSMC’s past cross‑listing traded at a premium, suggesting pricing effects.

High‑bandwidth memory (HBM), a key product for SK hynix, powers AI systems and is used by customers such as NVIDIA.

SK Square held 20.07% of SK hynix as of December 2025; Korea’s Fair Trade Act and holding‑company rules require maintaining at least a 20% stake.