Corporate Recruiter

CNBC host Jim Cramer says Micron Technology trades in step with South Korea's SK Hynix, and he dislikes it. Answering a viewer on Mad Money, he said: "I'm hoping the linkage ends one day, but it hasn't yet." The pattern held on October 13, when SK Hynix closed 10.09% lower in Seoul and Micron's US shares sank about 5%. Wall Street had already declined that Monday, so the influence may run both ways. Both firms also sell high-bandwidth memory chips into the same AI-driven demand cycle. On October 28, SK Hynix reported record third-quarter operating profit of 83.33 trillion won ($62.8 billion), up 632% year on year. That beat the 76.96 trillion won consensus. SK Hynix's American depositary receipts debuted on Nasdaq in July, which could deepen the overlap.

SK Hynix posted a third-quarter operating profit of 83.33 trillion won ($75.5 billion at current rates), up 632% year-on-year and above Bloomberg estimates of 77.5 trillion won. Revenue rose 328% to a record 104.615 trillion won, and net income rose 216% to 39.78 trillion won. The South Korean memory chip maker plans to return 100 trillion won ($75.5 billion) to shareholders this year. That includes at least 30 trillion won in cash dividends and at least 60 trillion won in share buybacks and cancellations, including a 40 trillion won buyback completed last week. SK Hynix expects the memory shortage to last through 2030 as AI demand grows. It has secured long-term deals with 14 major customers covering over 50% of its 2027 and 2028 capacity.

SK hynix shelves Solidigm IPO idea. Chris Mellor STORAGE EDITOR Blocks & Files editor Published fri 23 Oct 2026 // 12:52 UTC There will be no Solidigm IPO on the US stock market. Solidigm parent company SK hynix kiboshed the notion in a statement saying it "will halt its review of potential pre-IPO and IPO options." It had "explored various funding options, including a potential IPO, to finance a new fab in the U.S. to meet growing AI memory demand." It added: "While an IPO was expected to ease investment burdens and expand capacity for shareholder returns, the review has been discontinued in light of market conditions and share price trends. The need to invest in Solidigm's growth remains unchanged, and alternatives to enhance shareholder value will continue to be explored." Solidigm currently gets the NAND for its SSDs manufactured at a Dalian plant in China, which produces 192-layer 3D NAND, outdated by modern 3D NAND which is at the 270+ layer count and knocking on the 300+layer door. There are two fabs at Dalian, one producing the 192-layer NAND and the other a newer one being equipped after a pause when it was first constructed due to the then poor NAND market. Those days are over of course with AI server demand sending NAND requirements sky high, with NAND builders profits following in their wake. Equipping the second Dalian plant is being restricted by US technology export restrictions aimed at preventing China getting access to the latest semi-conductor manufacturing technology. Reports say SK hynix has been authorized to install 240-layer NAND equipment at Dalian Fab 2 but that is still two, and soon three, generations behind the latest technology. The US Trump-led government wants to build up US-based NAND manufacturing and SK hynix has been considering setting up a Solidigm fab in the USA - which will cost $15 to $30 billion. A Solidigm IPO idea was reported in September. This would have emulated parent SK hynix's own US Nasdaq market entry in July, using American Depositary Shares. SK hynix has now admitted that: "To secure the funding needed for Solidigm's growth and ensure efficient capital allocation, SK hynix has been evaluating various options, including direct investment in Solidigm and raising external capital through an IPO." Reports said Goldman Sachs and Morgan Stanley had been identified as lead underwriters, but that has come to naught. A contributing factor to the IPO shelving has been concerns by South Korean SK hynix stockholders that a Solidigm IPO would dilute their shareholdings, making them less valuable. Also, SK Hynix said: "While SK hynix and Solidigm continue to deliver solid business performance, financial market volatility has increased, contributing to a broader correction in semiconductor stocks." So: "After comprehensively assessing these business conditions, Solidigm has decided to discontinue its review of potential pre-IPO and IPO options." Which leaves SK hynix unable to use the Solidigm IPO route to get funds to build a Solidigm fab in the USA. Although SK hynix is making massive profits it has to pay for increased high-bandwidth memory (HBM) fabs and packaging facilities. HBM is vastly more profitable than NAND, and in very high demand from customers like Nvidia. SK hynix has mentioned the capital efficiency idea. It would appear that a dollar invested in HBM production expansion will bring in a greater return than a dollar invested in a NAND fab, but NAND is still profitable and it wants to have its HBM cake while eating its NAND cake at the same time. Perhaps it will look for a joint venture to share the cost of a US Solidigm fab.