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Market SK Hynix prices US ADR listing at $149, largest foreign IPO, 7x oversubscribed Market Magnificent Seven stumble: tech giants up only 1.1% YTD while Nasdaq +18%, memory chips soar 82% Breaking GPT-5.6 becomes preferred model in Microsoft 365 Copilot; 54% token efficiency gain for coding Breaking OpenAI folds Codex into ChatGPT; launches ChatGPT Work agent to compete with Claude Cowork Research OpenAI releases GPT-5.6 Sol, Terra, Luna after government safety review; Sol hits 91.9% Terminal-Bench 2.1 Market Anduril CEO warns against IPO timing in 'hype cycle'; defense tech builder raises bar on valuations Market SK Hynix targets $28B US listing on Nasdaq Friday; offering 7x oversubscribed Research Anthropic Claude Fable 5 tops frontier benchmarks; Opus 4.8 now #2 at same Opus 4.6 pricing Funding Taktile raises $110M Series C to bring agentic AI to regulated financial services Funding Zeroth raises $74M pre-Series A for humanoid robots; hits 30K orders, 600% YoY growth Research OpenAI launches GPT-5.6 Sol, Terra, Luna; Sol matches Fable 5 capability at roughly half the cost Breaking Anthropic appoints ex-Fed Chair Ben Bernanke to Long-Term Benefit Trust Market Anthropic launches Claude Sonnet 5 as free/Pro default at $2 intro pricing; closes Opus gap Market Palo Alto CEO: AI token pricing must fall 90% for enterprise adoption Breaking Ode Poetry launches voice AI persona of anthologist William Sieghart to recommend poems for emotional wellbeing Market Ford, GM secure long-term Micron memory deals as DRAM prices spike 70%; one of 16 SCAs Market Micron raises U.S. capex to $250B through 2035 with GlobalWafers $500M financing Chips US chip sanctions fuel Sino-Russian chip alliance; Huawei Ascend 950 fills void Chips Syntiant files for $300M IPO on edge AI chip momentum, backed by Intel and Microsoft Funding SK Hynix launches $28B US IPO targeting second-largest offering in history Market SK Hynix prices US ADR listing at $149, largest foreign IPO, 7x oversubscribed Market Magnificent Seven stumble: tech giants up only 1.1% YTD while Nasdaq +18%, memory chips soar 82% Breaking GPT-5.6 becomes preferred model in Microsoft 365 Copilot; 54% token efficiency gain for coding Breaking OpenAI folds Codex into ChatGPT; launches ChatGPT Work agent to compete with Claude Cowork Research OpenAI releases GPT-5.6 Sol, Terra, Luna after government safety review; Sol hits 91.9% Terminal-Bench 2.1 Market Anduril CEO warns against IPO timing in 'hype cycle'; defense tech builder raises bar on valuations Market SK Hynix targets $28B US listing on Nasdaq Friday; offering 7x oversubscribed Research Anthropic Claude Fable 5 tops frontier benchmarks; Opus 4.8 now #2 at same Opus 4.6 pricing Funding Taktile raises $110M Series C to bring agentic AI to regulated financial services Funding Zeroth raises $74M pre-Series A for humanoid robots; hits 30K orders, 600% YoY growth Research OpenAI launches GPT-5.6 Sol, Terra, Luna; Sol matches Fable 5 capability at roughly half the cost Breaking Anthropic appoints ex-Fed Chair Ben Bernanke to Long-Term Benefit Trust Market Anthropic launches Claude Sonnet 5 as free/Pro default at $2 intro pricing; closes Opus gap Market Palo Alto CEO: AI token pricing must fall 90% for enterprise adoption Breaking Ode Poetry launches voice AI persona of anthologist William Sieghart to recommend poems for emotional wellbeing Market Ford, GM secure long-term Micron memory deals as DRAM prices spike 70%; one of 16 SCAs Market Micron raises U.S. capex to $250B through 2035 with GlobalWafers $500M financing Chips US chip sanctions fuel Sino-Russian chip alliance; Huawei Ascend 950 fills void Chips Syntiant files for $300M IPO on edge AI chip momentum, backed by Intel and Microsoft Funding SK Hynix launches $28B US IPO targeting second-largest offering in history
Market

SK Hynix targets $28B US listing on Nasdaq Friday; offering 7x oversubscribed

South Korean chipmaker SK Hynix plans to raise approximately $28 billion in a US IPO on Friday, July 10, listing American Depositary Receipts (ADRs) under ticker SKHY on Nasdaq. The offering, at $149 per ADR, is already oversubscribed seven times, with cornerstone investors Baillie Gifford, Coatue Management, and Situational Awareness Partners pledging $7 billion combined (25% of the total offering).

The listing represents the largest-ever foreign share sale, surpassing Alibaba's $25 billion record in 2010. SK Hynix will deploy proceeds toward expanding production facilities in South Korea and acquiring extreme ultraviolet (EUV) lithography equipment to meet surging demand for high-bandwidth memory chips. The company's revenue jumped 198% year-over-year in Q1 2026 as clients including NVIDIA, Google, and Microsoft race to build AI infrastructure.

SK Hynix's market cap has exceeded $1 trillion after stock gains of over 250% this year in Seoul. The dual listing gives US investors direct access to the AI-memory shortage trade, which has similarly powered Micron to a $1.2 trillion valuation and 700% annual gains. Architects shipping AI infrastructure should watch: this confirms memory-subsystem scarcity is pricing in sustained AI capex at scale, and SK Hynix's ability to service that demand underpins any reasonable path to margin recovery in the sector.

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