SK Hynix ADR Jumps 13% in U.S. Debut as AI-Fueled Listing Draws Wall Street Praise

SK Hynix climbs 13% above its offering price as global media hail a blockbuster debut

ADR ends first trading day at $168.49, up 13.08% from the offering price

Bloomberg, WSJ and Reuters call it a historic debut that reflects fervor for AI investing

SK Hynix made a strong entrance to the U.S. stock market, closing its first day of trading more than 13% above its offering price. Major international media outlets and Wall Street analysts framed the listing as a test of investor appetite for artificial intelligence and of structural changes in the memory-chip industry.

On July 10, SK Hynix American depositary receipts closed at $168.49, up 13.08% from the offering price. SK Group Chairman Chey Tae-won also appeared on CNBC and Bloomberg TV that day to underscore the growth potential of the memory market.

Bloomberg wrote that the "historic debut" reflected a market wager that the AI boom will fundamentally change the boom-and-bust cycle that has dominated the memory semiconductor industry for decades.

The news organization added that the U.S. listing capped a remarkable comeback story for SK Hynix, tracing its rise to an AI memory leader after a period under creditor control and its acquisition by SK Group.

The New York Times described the listing as the latest test of investor demand for AI-related companies. The Wall Street Journal said SK Hynix's historic U.S. trading debut helped revive sentiment for AI investments.

Wall Street commentators were also optimistic. Thomas Hayes, chairman of Great Hill Capital, said semiconductor stocks globally are attracting some of the largest pools of capital in the market. The underwriters and SK Hynix, he said, confirmed a lofty valuation and are seeking to capitalize on it.

Dan Coatsworth, investment analyst at AJ Bell, said demand for U.S. equity offerings was stronger than some had expected. That suggests the rally in memory semiconductors may be pausing rather than peaking.

Giuseppe Sette, co-founder of Reflexivity, called SK Hynix the clearest large-cap way for U.S. investors to gain exposure to the AI memory theme. He added that companies that list next could face a tougher and more selective market.

Agence France-Presse also noted that "SK Hynix jumpers" in South Korea have come to symbolize wealth and success. It cited online parodies portraying the jackets as a "golden ticket" to entering luxury boutiques or finding better romantic partners.

Shin Hyun-bo, Hankyung.com reporter greaterfool@hankyung.com