SK Hynix raises record $26.5 billion in US stock market debut

SK Hynix, a South Korean chipmaker, has completed the biggest US stock market debut ever by a foreign company. The firm raised $26.5 billion by selling shares to American investors through a system called American Depositary Receipts. It sold nearly 178 million of these shares at $149 each.

SK Hynix makes memory chips that AI systems need to work. Demand for these chips has grown very fast because companies around the world are building AI technology. This growth has helped SK Hynix earn record profits and become more valuable than its rival Samsung.

A year ago, most investors had never heard of SK Hynix. Now South Korea's stock market has become the seventh largest in the world, partly because of the huge interest in both SK Hynix and Samsung.