WSJ: SK Hynix stopped reviewing both a pre-IPO round and a U.S. IPO for Solidigm, citing market volatility and a broader correction in semiconductor stocks.

The halt doesn’t remove the underlying problem, since SK Hynix says Solidigm’s existing plants have limited capacity for AI-driven demand and it still needs a new U.S. fab.

SK Hynix shares have fallen about 30% this quarter and more than half since their June record, just 3 months after the company raised $26.51B by selling new shares to U.S. investors on Nasdaq.