South Korean memory chipmaker SK Hynix said on June 24 that it plans to raise up to 45.45 trillion won ($29.4 billion) through an American depositary receipt (ADR) offering on Nasdaq.

The securities are expected to begin trading on July 10.

The company said the proceeds will be used to fund a new chip fabrication plant in Yongin, an advanced packaging facility in Cheongju and purchases of chipmaking equipment, including extreme ultraviolet (EUV) lithography systems.

SK Hynix is a leading supplier of high-bandwidth memory (HBM) chips, which are critical components in AI servers and data centers and have become a key bottleneck in the expansion of AI infrastructure.

According to Counterpoint Research, SK Hynix held a 57% share of the global HBM market by revenue in the fourth quarter of 2025. Despite its dominance in the HBM segment, the company remains less richly valued than rivals Micron Technology and Samsung Electronics.