SK Hynix shares surged 5.5% on Wednesday, closing at a record ₩2,517,000, after a South Korean media report said the company is preparing a U.S. listing of American Depositary Receipts (ADRs) as early as next month.
The Korean Economic Daily reported that the company aims to list ADRs by July and could raise as much as 40 trillion won ($26.5 billion) through the offering. According to the report, the primary intent of the move is to bolster SK Hynix's cash position and support accelerated investment in research, development and production capacity in the face of persistently strong demand from the artificial intelligence industry.
Demand tied to AI workloads has materially benefited SK Hynix. The company has seen heightened needs for advanced memory products, and the article noted that supply constraints across the sector have helped lift margins. These dynamics have contributed to SK Hynix's market capitalization surpassing $1 trillion.
Corporate ties with NVIDIA were highlighted as a complementary growth driver. SK Hynix and NVIDIA recently signed a multi-year technology cooperation agreement to co-develop next-generation memory for AI-focused data centers. The arrangement specifically covers supply for NVIDIA's Vera Rubin AI supercomputers and other platforms.
NVIDIA's chief executive, Jensen Huang, has described SK Hynix as NVIDIA's largest memory partner and noted that NVIDIA purchases billions of dollars of memory from SK Hynix each year. Separately, SK Hynix is installing additional backend processing equipment at its P&T6 facility in Cheongju to ready final-stage HBM4 mass production, indicating preparation for the next generation of high-bandwidth memory.
On June 16, SK Hynix issued a formal disclosure confirming that it is reviewing a range of shareholder value enhancement measures. The company, however, denied a specific local media report that had attributed a 100 trillion won plan to it.
Market sentiment provided additional tailwinds. Broader optimism, including on reports of a potential U.S.-Iran peace development, supported equities in recent sessions and helped SK Hynix's rally. The stock has gained about 272% so far in 2026.
Taken together, the ADR report, ongoing AI-driven demand, strategic collaboration with a major GPU customer and confirmation that shareholder measures are under review helped fuel investor buying. The exact timing and size of any U.S. offering remain subject to confirmation, and the company has publicly pushed back on one widely reported large-scale shareholder plan.