SK hynix's Nasdaq debut on Friday is expected to provide further momentum for the chipmaker's shares, according to market watchers. Investors are closely watching whether the listing can revive a broader appetite for artificial intelligence (AI)-driven semiconductor stocks amid mounting concerns that the sector's rally may have peaked. The KOSPI climbed more than 2 percent on the day to close back above the 7,400 mark, supported by improving investor sentiment toward semiconductor stocks. SK hynix is scheduled to begin trading on the Nasdaq on Friday (local time), under the ticker SKHY after pricing its American depositary receipts (ADRs) at $149 each. ADRs allow U.S. investors to trade foreign companies on U.S. exchanges without purchasing their underlying shares directly in overseas markets. The offering consists of 177.9 million ADRs, each representing one-tenth of a Seoul-listed common share, and is expected to raise about 40 trillion won ($26.6 billion), making it the largest U.S. listing by a foreign company, surpassing Alibaba's 2014 debut. SK hynix said it plans to use the proceeds
SK hynix lands $26.5 billion as AI chip demand surges