SK Hynix, a South Korean chipmaker, is set to debut on Nasdaq, coinciding with the company's significant expansion plans in the U.S.:
The company's stock has soared more than sevenfold over the past year, with a market cap around $1 trillion.
SK Hynix is building a $4 billion production facility in Indiana and expanding its Solidigm business in Sacramento, California.
The company plans to raise around $29 billion through American depositary receipts to fund new factories and equipment.
SK Hynix is a leader in high-performance memory used in AI chips.
The company also expects to receive up to $458 million in funding from the U.S. CHIPS and Science Act.
