Exclusive-South Korea's SK Hynix to opt for Nasdaq for planned US listing, sources say

Summary

South Korean memory chipmaker SK Hynix is opting for Nasdaq over the NYSE for its planned US listing as early as August, following a 230% share price surge this year that lifted its market value above $1 trillion in May, with sources citing the company's desire to capitalize on investor appetite for AI-linked stocks and broaden its global investor base.

Market Impact

Nasdaq hosts many of the world's largest technology and chip firms including Nvidia, Microsoft, Amazon, and SK Hynix's smaller rival Micron—whose shares are up about 248% this year—and was also the preferred listing venue for SpaceX, which began trading the same day this report was published. Meritz Securities analyst Kim Sunwoo noted that passive investment funds, which track indexes heavily weighted toward Nasdaq-listed companies, now account for a larger share of global investment flows than active funds, making Nasdaq listings particularly attractive for technology companies seeking broader investor access. SK Hynix, the world's second-largest memory chipmaker and a key Nvidia supplier due to its dominant position in high-bandwidth memory chips for AI servers, confidentially filed for the US listing in March, with a source previously estimating the offering could raise as much as $14

Why It Matters

SK Hynix's choice of Nasdaq for a potential $14 billion US listing reflects how AI-driven investor demand and passive fund index weighting are concentrating major global technology and chip listings on a single exchange.

Key Points

• SK Hynix is opting for Nasdaq over NYSE for its planned US listing as early as August, after its share price surged 230% this year, lifting market value above $1 trillion in May
• Nasdaq hosts Nvidia, Microsoft, Amazon, Alphabet, and SK Hynix's rival Micron (up about 248% this year), and was also SpaceX's chosen listing venue
• Meritz Securities' Kim Sunwoo said passive funds, heavily weighted toward Nasdaq-listed companies, now exceed active funds' share of global investment flows, making Nasdaq attractive for broadening investor bases
• SK Hynix confidentially filed for the US listing in March; a source estimated the offering could raise as much as $14 billion, with SEC approval of the ADR listing expected around June 22

Key Entities

Evidence

South Korean memory chipmaker SK Hynix is looking to choose the Nasdaq for its planned U.S. listing, two sources familiar with the matter said, opting for the technology-heavy bourse to capitalize on investor appetite...

Supports: Confirms the Nasdaq listing choice and its rationale

The planned listing as early as August comes after a 230% surge in SK Hynix's share price this year, lifting its market value above $1 trillion in May.

Supports: Documents the share price performance preceding the listing decision

Passive investment funds now account for a larger share of global investment flows than active funds, with a significant portion of those passive flows concentrated in Nasdaq-listed stocks, making the exchange particu...

Supports: Grounds the structural passive-fund rationale for the Nasdaq choice