SK Hynix files confidentiality for U.S. listing as it rides intense demand for AI memory chips

SK Hynix revealed Wednesday that it made a confidential filing with the U.S. Securities and Exchange Commission for a potential listing on Wall Street this year.

The South Korean memory giant first disclosed its interest in a U.S. listing in December, as it seeks fresh capital to expand production amid surging memory demand driven by the artificial intelligence boom. 

SK Hynix said in a regulatory filing that it aims to proceed with the listing of American Depositary Receipts within 2026, though details such as the size, method, and schedule of the public offering have not yet been finalized. 

ADRs are tradable certificates issued by U.S. banks that represent shares in a foreign company. While they tend to trade with lower liquidity than a full U.S. listing, which can deter some investors, ADRs use existing shares rather than new stock, preserving value for existing shareholders.

"The final decision on the listing will be made after comprehensively considering the SEC's review of the application, market conditions, demand forecasting, and other relevant factors," the filing said, according to a Google translation. 

The company said it will make another disclosure when specific details are finalized or within six months.

Local media reported the company is considering raising between 10 trillion won and 15 trillion won, or roughly $6.7 billion to $10 billion at current exchange rates.

SK Hynix is one of the world's leading suppliers of high-bandwidth memory (HBM) chips used in AI processors. Demand for such memory chips has accelerated so fast that it triggered a global memory shortage and a resulting surge in prices. 

In the face of that shortage, SK Hynix and competitors such as Micron and Samsung have rushed to expand capacity. 

On Tuesday, SK Hynix announced plans to purchase 11.95 trillion won ($7.97 billion) worth of advanced chipmaking equipment from ASML in one of the largest single disclosed orders for such tools.

SK Hynix shares rose over 5% in Seoul trading on Wednesday. The stock surged 274% in 2025 on the strong AI demand and is up around 60% so far this year.

The U.S. listing disclosure comes on the day it held its annual shareholders' meeting.