SK Hynix puts Solidigm’s US IPO on hold amid shareholder concerns
A listing had been under consideration to help fund a new US factory and meet surging demand for chips in AI data centres.
South Korean chipmaker SK Hynix has postponed the US IPO of its Solidigm chip unit due to market volatility and concerns over shareholder interests, according to a statement released on Friday. The potential listing of Solidigm, a former Intel business specializing in NAND flash memory and solid-state drives, was considered to help fund a new US factory and meet rising demand for chips in AI data centers.
If successful, the IPO could have raised $15 billion and valued the unit at $150 billion. However, South Korean authorities and the public raised concerns that the deal might undermine shareholder interests. SK Hynix, which became dual-listed on the Nasdaq in July, stated that it would continue exploring ways to fund Solidigm's expansion and enhance shareholder value, including reviewing future investments.
The chipmaker did not reveal how this decision might be received by the Trump administration, which has pressured foreign chipmakers to build new facilities in the US.
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