SK hynix shelves Solidigm IPO idea

What happened

On Friday 23 October 2026, SK hynix said it will halt its review of potential pre-IPO and IPO options for Solidigm, meaning there will be no Solidigm IPO on the US stock market. SK hynix had explored various funding options, including a potential IPO, to finance a new fab in the US to meet growing AI memory demand, with a Solidigm US fab estimated to cost $15 to $30 billion. The company said that while an IPO was expected to ease investment burdens and expand capacity for shareholder returns, the review was discontinued in light of market conditions and share price trends; it also said financial market volatility has increased, contributing to a broader correction in semiconductor stocks. Reports said Goldman Sachs and Morgan Stanley had been identified as lead underwriters, but that has come to naught. A contributing factor was concerns by South Korean SK hynix stockholders that a Solidigm IPO would dilute their shareholdings, making them less valuable. Solidigm currently gets the NAND for its SSDs manufactured at its Dalian plant in China, which produces 192-layer 3D NAND; reports say SK hynix has been authorized to install 240-layer NAND equipment at Dalian Fab 2, with equipping of the second Dalian plant restricted by US technology export restrictions aimed at preventing China from accessing the latest semiconductor manufacturing technology. SK hynix said the need to invest in Solidigm's growth remains unchanged and alternatives to enhance shareholder value will continue to be explored. A Solidigm IPO idea was reported in September, which would have emulated parent SK hynix's own US Nasdaq market entry in July using American Depositary Shares.

Impact and signal

Affected components and suppliers

Source and time

Source: Blocks & Files · 10/23/2026 · View original source