South Korea’s SK Hynix Inc. is making its debut with American investors with a blockbuster US stock listing, capping one of the most dramatic success stories in the AI industry.

The maker of memory chips has emerged as the top supplier of high-bandwidth memory, or HBM, an increasingly vital part of the global data center build-out. Now SK Hynix is further raising its profile with a US offering worth 45.45 trillion won ($29.4 billion).