SK hynix halts review of Solidigm's US stock market listing

Solidigm, SK hynix’s NAND flash memory subsidiary, has decided to halt its review of potential pre-initial public offering (IPO) fundraising and IPO options, citing volatile capital markets and recent trends in semiconductor stock prices, the chip giant said Friday. The company was established in the United States following SK hynix’s $9 billion acquisition of Intel’s NAND flash memory business. "While SK hynix and Solidigm continue to deliver solid business performance, financial market volatility has increased, contributing to a broader correction in semiconductor stocks," SK hynix said in a press statement. "After comprehensively assessing these business conditions, Solidigm has decided to discontinue its review of potential pre-IPO and IPO options." Reports circulated that Solidigm was considering a U.S. IPO as early as next year that could value the company at up to $150 billion, with the listing seen as a way to secure funding for U.S. production facilities and technology development amid growing demand for enterprise solid-state drives for artificial intelligence data center