Memory chip giant SK Hynix jumps nearly 13% in Wall Street debut as AI frenzy powers biggest initial share sale in the U.S. by a foreign company

SK Hynix's shares rose 12.8% on their Wall Street debut, driven by surging demand for memory chips due to AI advancements. The company raised $26.5 billion through an ADR offering, making it the largest U.S. IPO by a foreign firm. SK Hynix partnered with Nvidia to supply advanced memory chips and plans to expand in the U.S. with a new Indiana facility.