SK Hynix surges 11% after filing for blockbuster Nasdaq listing

SK Hynix shares jumped 12% Thursday after the South Korean memory chip maker filed to raise up to $29.4 billion through a Nasdaq listing, one of the largest capital raises in semiconductor history. The stock surge followed the company's dual announcement of the blockbuster fundraising plan and stronger-than-expected quarterly earnings results.

The proposed U.S. listing marks a strategic push by SK Hynix to tap American capital markets amid elevated demand for high-bandwidth memory chips used in artificial intelligence applications. The $29.4 billion figure represents the maximum potential raise, positioning this among the top-tier tech IPOs and secondary offerings globally.

The 12% single-day gain reflects investor enthusiasm for both the capital access and the operational momentum signaled by the better-than-forecast quarterly performance, though specific earnings figures were not detailed in the filing announcement.