Nvidia’s Huang calls SK Hynix Nasdaq listing ‘incredibly successful’

Nvidia ↘ 1.47% CEO Jensen Huang praised SK Hynix's American depositary receipts listing on the Nasdaq as "incredibly successful" during an event in Tokyo on July 15, adding that he was "very pleased" with the outcome, according to Korean media reports.ajupress+1

Huang made the remarks while attending an event in Akihabara, Tokyo, marking the 30th anniversary of the partnership between Nvidia and Japanese game company SEGA. SK Hynix is Nvidia's largest memory chip supplier, providing high-bandwidth memory essential for AI processors.biz.chosun+1

A Record-Breaking Offering

SK Hynix began trading on the Nasdaq on July 10 after raising $26.5 billion through its ADR offering, the largest-ever U.S. first-time share sale by a foreign company. The company priced 177.9 million ADRs at $149 each, with ten ADRs representing one common share listed on the Kospi in Seoul. The ADRs opened at $170 on their first day of trading, a premium of roughly 17% over the Seoul-listed stock.dallasexpress+4

The offering surpassed Alibaba's ↘ 4.74% $25 billion U.S. listing in 2014 to become the second-largest stock issuance in U.S. history. SK Hynix stated that all funds raised through the ADR issuance will be invested in expanding semiconductor production capacity.wsj+1

Deepening AI Chip Ties

The Nasdaq debut underscores the deepening relationship between SK Hynix and Nvidia. Huang has previously named SK Hynix as the company's largest memory partner and signed multi-year agreements highlighting its leadership in high-bandwidth memory chips. The company has been accelerating the development of next-generation HBM4 chips at Nvidia's urging.finance.yahoo+1

SK Hynix's ADR offering closed on July 14, with newly issued common shares underlying the ADRs set to be additionally listed on the Korea Exchange on July 29. The listing trades under the ticker SKHY after initially using the temporary symbol SKHYV.dallasexpress+1