SK Hynix to close $28 billion ADR bookbuild on Wednesday after oversubscription, source says - Yahoo Finance

SK Hynix plans to conclude its $28 billion American Depositary Receipt (ADR) offering on Wednesday, U.S. time, following significant oversubscription. This offering ranks among the largest new share s... Read original →

SK Hynix’s $28 billion oversubscribed ADR isn’t just fundraising—it signals the AI hardware race has entered a 'memory-defined compute' era. Technically, its HBM4 tied to 3nm EUV will pressure TSMC and Micron to accelerate CoWoS and hybrid bonding integration, establishing bandwidth-centric chip stacking as the new norm. Geopolitically, while U.S. export controls tighten, SK Hynix leverages U.S. capital markets to build a jurisdictionally neutral funding structure, insulating itself from unilateral policy shocks. Samsung will likely fast-track HBM4 volume production and deepen partnerships with Taiwan, China-based OSATs. Over the next 18 months, HBM capacity will become the critical bottleneck in AI chip supply chains, and SK Hynix—armed with this capital edge—could seize pricing power and reshape memory industry margins.