SK Hynix shares fell in Seoul on Monday, July 8, following the memory-chip maker's anticipated trading debut in the U.S. [1].

The slump reflects growing investor uncertainty regarding the durability of the AI-driven chip rally and whether valuation pressures for artificial intelligence technologies are beginning to weaken [2].

Shares of the South Korean company dropped about 13% in early trading [3]. The volatility coincided with a broader downturn in the local market, where South Korean shares erased early gains and slumped 5.2% as the AI-driven chip sell-off intensified [4].

Despite the immediate stock decline, the company achieved a historic milestone with its U.S. listing. The offering became the biggest foreign stock offering in U.S. history, surpassing the $25 billion IPO of Alibaba more than a decade ago [5].

Reports on the exact size of the offering vary across financial sources. Some reports place the U.S. offering at $26.5 billion [6], while other sources cite a figure of $29 billion [7]. Additional reporting indicates the company may have trimmed its fundraising target to $28 billion [8].

"SK Hynix shares declined in Seoul on Monday after the memory chipmaker’s highly‑anticipated US trading debut," Neil Campling of Bloomberg Television said [1].

Investors are currently gauging the demand for overseas offerings as the company seeks deeper access to U.S. AI investors. The market movement suggests a tension between the company's record-breaking fundraising scale and the immediate appetite for high-valuation semiconductor stocks [2].

“SK Hynix's US listing became the biggest foreign stock offering in US history”

The divergence between SK Hynix's record-breaking fundraising success and its subsequent share price drop suggests a precarious moment for the AI sector. While institutional appetite for large-scale chip offerings remains high, the market is increasingly sensitive to whether the rapid valuation growth of AI-linked hardware can be sustained long-term.