SK Hynix Cancels US IPO for Subsidiary Solidigm

SK Hynix canceled plans for an initial public offering of its flash-memory subsidiary, Solidigm, in the United States. The memory-chip maker cited unfavorable market conditions and broader share-price trends as the primary drivers for the decision.

Company leadership noted a deepening investor caution regarding artificial-intelligence valuations. Despite the cancellation, SK Hynix stated that the move does not reflect a change in the growth prospects of Solidigm.

The IPO was originally intended to raise capital for the construction of a new production facility in the United States. That facility was planned to address the increasing demand for AI-related hardware.