SK Hynix officially announced today that its U.S. subsidiary, Solidigm, has decided to halt its pre-IPO financing and initial public offering (IPO) plans. From the initial disclosure of related financing rumors on August 5 to the company’s announcement on October 23 suspending its evaluation, a total of 79 days have passed.

According to Reuters, citing people familiar with the matter, Samsung Electronics and SK Hynix are upgrading their NAND flash production lines at factories in China. The goal is to raise stacking levels to above 200 layers, bringing the technology level of their Chinese plants closer to that of their South Korean facilities.

According to a report by Korean media outlet ZDNet, Solidigm, a subsidiary of SK Hynix, is considering constructing its first NAND flash memory production base in the United States. The company is currently in the stage of coordinating detailed plans, including factory site selection and investment timing.

CoreWeave established this direct, multi-year agreement with Solidigm to secure priority allocation as enterprise AI adoption accelerates and industry-wide storage supply tightens.