Nvidia Supplier SK Hynix Mulls New York Listing Amid Soaring AI Chip Demand

South Korean AI memory chipmaker and Nvidia (NASDAQ:NVDA) supplier SK Hynix is contemplating listing American depositary receipts (ADRs) backed by its treasury shares in New York.

However, no final decision has been made at this time, the company stated in a regulatory filing on Wednesday.

SK Hynix Eyes 2.4% US Listing

The announcement follows a report by Korea Economic Daily on Tuesday, which stated that several investment banks had proposed that SK Hynix list approximately 2.4% of its outstanding shares, equivalent to around 17.4 million shares, as ADRs.

SK Hynix’s shares closed 3.71% higher at KRW 5,87,000 ($399.43) on the Kospi on Wednesday. The stock has also enjoyed an uptick after President Donald Trump, on Monday, allowed Nvidia to sell its H200 chips to approved customers in China and other nations in lieu of a 25% fee.

High Bandwidth Memory Chips Fuel Demand

SK Hynix’s potential New York listing comes on the heels of its record-breaking chip supply sell-out for 2026, driven by the global AI boom. The company’s Q3 profit reached an all-time high of $8.02 billion, reflecting a 62% increase from the previous year.

Earlier in June, SK Hynix secured custom high-bandwidth memory (HBM) orders from Nvidia, Microsoft Corp (NASDAQ:MSFT), and Broadcom Inc (NASDAQ:AVGO). This move marked a growing demand as big tech shifted away from general-purpose memory to optimize the performance of its AI services.

SK Hynix’s potential New York listing could further bolster its standing in the global chip market, potentially leveling the playing field with its U.S. counterparts.

This year so far, the stock has surged 242.87%, fueled by strong demand for high-bandwidth memory chips powering the AI sector. The company has also gained from South Korea's continued initiatives to enhance corporate value and strengthen governance.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.