Shares of South Korean memory chipmaker SK Hynix rose 14% as they made their debut on Wall Street, at a time when demand for chips is surging thanks to the frenzy around artificial intelligence. SK Hynix priced its American depositary receipts, or ADRs, at $149 each Thursday and they opened Friday at $170 on the Nasdaq. The offering of 177.9 million ADRs raised proceeds of $26.5 billion, making it the biggest-ever initial share sale in the U.S. by a foreign company. SK Hynix has a dominant position globally for high bandwidth memory, which is essential for the development of advanced AI technology.