SK Hynix made a powerful Nasdaq debut, opening at $170, about 14% above its $149 ADR offering price, as U.S. investors rushed into one of the AI memory trade’s most important names. The South Korean chipmaker raised $26.5 billion through the sale of 177.9 million ADRs, giving it fresh capital for an aggressive expansion push across new factories, equipment, and AI-era memory capacity.
The stock began trading under the temporary ticker SKHYV and is expected to switch to SKHY on Tuesday.
SK Hynix is already trading like an AI-memory trophy asset before its Nasdaq debut, with ADRs indicated near $180, roughly 21% above the $149 offer price. The $26.5 billion listing topped Alibaba’s 2014 debut as the largest first-time U.S. share sale by a foreign company. Chairman Chey Tae-won said the company remains open to more U.S. investment, including chip production on American soil.
Bernstein is getting more optimistic on gold into late 2026, raising its forecast to $4,533 per ounce and setting a second-half target of $4,375. The case rests on steady central bank buying, limited ETF selling, and a Federal Reserve that stops short of another aggressive tightening cycle. The main threat is sticky inflation, which could push rates higher and cool the rally
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The Nasdaq Composite heads into Friday with the strongest weekly setup among the major averages, keeping the market’s tech bias intact even as futures looked mixed before the open. S&P 500 futures were little changed, Nasdaq 100 futures slipped 0.3%, and Dow futures rose about 94 points, or 0.2%. The tone follows Thursday’s rally, when easing oil prices helped steady risk appetite despite fresh U.S.-Iran uncertainty. The S&P 500 is on pace for a 0.8% weekly gain, while the Nasdaq is tracking a stronger 1.5% advance.
SK Hynix arrives on the Nasdaq today with Wall Street rolling out the red carpet, after JPMorgan’s Manhattan headquarters lit up with the South Korean flag ahead of the listing. The memory-chip giant priced 177.9 million ADRs at $149 each, raising $26.5 billion in the largest first-time U.S. share sale by a foreign company.
Here’s a look at where things stand as of pre-morning trading:
Dow Jones Industrial Average: 52,000 Up 0.26%
Nasdaq Composite: 29,796 Down 0.47%
S&P 500: 7,588 Flat
The SK Hynix deal lands at the center of the AI memory boom, with demand reportedly running more than seven times the shares available. The size of the order book shows how aggressively institutions are chasing direct exposure to high-bandwidth memory, where SK Hynix has become one of the most important suppliers in the AI chip stack.
Circle (NYSE: CRCL) scored a regulatory win after receiving approval to launch a national digital-currency trust bank. The move gives the USDC issuer a federally supervised home for custody services, strengthening the infrastructure behind one of the market’s most important stablecoins. CRCL shares are soaring by 12% in pre-market trading.
Meta Platforms (Nasdaq: META) is enjoying the spotlight of late. The company’s AI spending roadmap may be more efficient than feared, according to BofA. The firm estimates Meta could add 6.5 gigawatts of capacity in 2026 on $145 billion of capex, implying roughly $22 billion per gigawatt, less than half BofA’s prior $45 billion estimate. If that math holds, Meta’s AI infrastructure returns could look far more compelling than Wall Street had assumed.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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