SK Hynix US listing, June 25 -- Shares of South Korean memory chip giant SK Hynix surged nearly 13% on Thursday after the company unveiled plans to raise about $29.4 billion through a US stock market listing, marking one of the largest equity offerings ever attempted. The announcement sparked a rally across South Korea's semiconductor sector, with investors betting that demand for artificial intelligence (AI) hardware will continue to drive earnings growth.

SK Hynix climbed as much as 12.9% to KRW 2,907,500 during Thursday's session, extending a spectacular rally that has made it one of the world's best-performing large-cap technology stocks.

The company, a key supplier of high-bandwidth memory (HBM) chips used in Nvidia's AI processors...