South Korean memory chipmaker SK Hynix is planning to choose Nasdaq for its U.S. listing, as the company looks to capitalize on investor appetite for AI linked stocks.
The listing could come as early as August, according to people familiar with the matter cited by Reuters. SK Hynix selected Nasdaq over the New York Stock Exchange, the report said.
The move follows a massive rally in SK Hynix shares, which have surged about 230% this year and pushed the company’s market value above $1 trillion in May.
SK Hynix is the world’s second largest memory chipmaker and a key supplier to Nvidia. The company has become one of the biggest winners of the AI boom because of its strength in high bandwidth memory chips used in AI servers.
A U.S. listing would broaden SK Hynix’s investor base and raise its profile among global investors. The company confidentially filed for a U.S. listing in March, and the offering could raise as much as $14 billion.
The Nasdaq choice reflects where investor demand has been strongest. The exchange is home to Nvidia, Microsoft, Amazon, Alphabet, and Micron, SK Hynix’s smaller U.S. rival.
Memory chip stocks have sharply outperformed this year as AI infrastructure spending continues to drive demand for advanced components. Micron shares are up about 248% this year, while the Nasdaq Composite has gained around 11%.
Analysts said Nasdaq may offer stronger valuation support for technology and growth companies, helped by passive fund flows concentrated in Nasdaq listed stocks and AI focused indexes.