🇺🇸BREAKING: SK Hynix scraps U.S. subsidiary IPO plans, stock plunges -8%. The proposed Nasdaq listing could have raised about $10 BILLION for the storage-chip subsidiary, but faced shareholder opposition over dilution and splitting ownership of a business they already hold through SK Hynix. The company confirmed Solidigm is abandoning both pre-IPO financing and IPO evaluations after considering “capital market conditions and other factors.” The retreat leaves SK Hynix seeking other ways to fund Solidigm’s expansion as concerns over AI spending weigh on chip stocks.