SK Hynix is capitalizing on the wave of demand for AI chips to accelerate its plans for a US listing, sending a strong signal of market confidence to investors.

According to Reuters, citing a person familiar with the matter, SK Hynix informed some investors this week that its US listing plan has received "extremely positive" feedback from shareholders, citing robust AI demand and the company's competitive edge in the memory chip market.

Concurrently, the company anticipates that the favorable pricing environment for its High Bandwidth Memory (HBM) chips will extend into next year, with related customer negotiations currently underway.

The positive signals from this roadshow further solidify market expectations for SK Hynix's US listing. The company had confidentially filed for a US listing earlier this year, with the fundraising amount potentially reaching up to $14 billion, though the specific scale and timeline remain undetermined as the review process by the US Securities and Exchange Commission (SEC) is still ongoing.

Market Cap Surpasses Trillion-Dollar Mark as AI Demand Fuels Stock Surge

SK Hynix's share price has surged by 250% year-to-date, with its market capitalization exceeding $1 trillion last week, making it the third company in Asia after TSMC and Samsung Electronics to achieve this milestone.

The core driver of this rally is the explosive growth in demand for advanced memory chips from AI data centers. The rapid expansion of AI computing infrastructure has led to a severe shortage of memory chip supply, impacting downstream sectors like smartphones and personal computers, while leading memory chip manufacturers such as SK Hynix and Samsung are directly benefiting from soaring chip prices.

As a key supplier to NVIDIA, SK Hynix holds a leading position in the HBM market, a competitive advantage that is one of the significant reasons for the positive investor response to its US listing plan.

US Listing Strategy: Accessing American Institutional Investors

A core rationale for SK Hynix's push to issue American Depositary Receipts (ADRs) is to broaden its investor base. The informed source indicated that some US institutional investors, due to internal mandate restrictions, can only invest in stocks listed in the US. A US listing would enable SK Hynix to directly access this substantial pool of capital.

SK Hynix stated, "SK Hynix plans to issue ADRs within 2026, but specific details including scale and timing have not been determined." The company also noted that it cannot provide specific updates on the listing process as the SEC review is still in progress.

Optimistic HBM Pricing Outlook, Supply-Demand Gap May Extend to 2027

Regarding market prospects, SK Hynix conveyed a relatively positive outlook to investors. The person familiar with the matter stated that the company expects the favorable pricing environment for HBM chips to continue into next year and is currently negotiating future pricing for these advanced memory chips used in AI chip sets with customers.

Furthermore, SK Hynix pointed out that strong demand from NVIDIA's next-generation Vera Rubin AI platform for LPDDR memory chips—a low-power chip type typically used in phones and tablets—could further tighten overall memory market supply starting from 2027.

Facing potential supply-demand imbalances, SK Hynix stated it would adjust investment plans and product mixes to maximize output. However, the company also acknowledged that, given demand is projected to significantly outstrip supply, it cannot guarantee it will be able to fully meet all demand.