Why SK Hynix (SKHX) rose 1.95%
SK Hynix (SKHX) rose 1.95% on October 23, 2026 — Scrapping Solidigm IPO plans supports SK Hynix.
What happened
SK Hynix rose 1.9% after announcing it has scrapped plans for a US IPO of its Solidigm unit, citing market conditions. Earlier reports had eyed a valuation of up to $150 billion for the listing.
Why it moved
Dropping the Solidigm IPO removes a near-term overhang, since a listing could have spun off part of SK Hynix's value and forced a valuation reset.
Why it matters
Within the Korea Tech theme, SK Hynix is the core memory leader riding the AI compute supercycle, and keeping Solidigm in-house preserves its exposure to NAND and AI storage demand.
What would break the thesis
If SK Hynix reopens the IPO process or the market starts pricing a lower Solidigm valuation later, the relief fades. Memory pricing and AI demand will matter more than this one corporate decision.