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SK hynix said it has scrapped plans for an initial public offering of its US enterprise SSD unit Solidigm, blaming unfavorable stock market conditions and a semiconductor share price correction. The company confirmed it will still build a new fab for Solidigm in the US to meet rising demand for high-capacity enterprise SSDs, though it has not disclosed the facility's capacity, cost, or timeline.
SK Hynix said its subsidiary Solidigm will pause its review of pre-IPO and IPO options, citing recent capital market conditions and share price trends. The chipmaker's shares initially fell 3% before paring losses to trade 0.3% lower on the news. SK Hynix said it will keep exploring other ways to fund Solidigm's planned U.S. semiconductor fabrication plant.
OpenAI is reportedly negotiating a private funding round of up to $30 billion at a $1.25 trillion pre-money valuation, led by Coatue and UAE investors, according to CNBC sources. The deal may also include arrangements for OpenAI to secure additional computing capacity from the UAE. OpenAI declined to comment, and terms could still change.
OpenAI is finalizing a funding round of up to $30 billion that would value the company at $1.25 trillion, excluding the new capital, according to people familiar with the matter. UAE-based investors and Coatue are leading the round, which is being described as a bridge financing ahead of a possible IPO, with signatures targeted by the end of next week.
Chinese AI startup DeepSeek has completed a second private funding round totaling $15 billion, according to people familiar with the matter. The round came in at nearly double its original fundraising target, reflecting strong demand from investors.
A draft IPO prospectus reviewed by the Wall Street Journal shows Anthropic posted an $80 billion net loss for the first six months of 2026, up sharply from $13 billion in the same period a year earlier. Revenue over that span rose only modestly, from roughly $15.2 billion to $16.3 billion, while the company has also committed to about $450 billion in cloud computing infrastructure spending over the next seven to ten years.
SpaceX reported third-quarter revenue of $14.6 billion, up 161% year-over-year and ahead of analyst estimates, with net income of $4.4 billion versus a $1.05 billion loss a year earlier. On the earnings call, Elon Musk said he is considering combining SpaceX with Tesla and that both companies' boards have formed committees to discuss the idea.
A Nature briefing reports that as more AI companies prepare to go public, the number of ultra-wealthy philanthropists funding biomedical science in the US is expected to grow. These donors tend to back higher-risk, personally meaningful projects with fewer conditions than government agencies typically impose, according to the briefing.
OpenAI and Anthropic are preparing to go public within the next year or two, with Anthropic's IPO potentially raising as much as $2 trillion and OpenAI targeting $1.4 trillion, though OpenAI has pushed its listing to 2027 over AI safety concerns. Researchers note that such windfalls could add to an already growing trend of tech entrepreneurs funneling personal fortunes into biomedical science, citing examples like Altos Labs, which launched in 2022 with $3 billion from investors including Yuri Milner and Jeff Bezos, and the Chan Zuckerberg Initiative.
A leaked S-1 filing reported by the Wall Street Journal says Anthropic is finding it hard to secure enough cloud computing capacity from AWS, Google and Microsoft, which it says increasingly view the company as a competitor rather than a customer. The filing shows Anthropic could spend over $750 billion on cloud contracts, is leasing its own data centers, and reported an $80.7 billion net loss on $16.3 billion in revenue for the first half of the year, with two customers accounting for about a fifth of sales.
Anthropic and OpenAI have begun drafting plans to distribute some of their financial gains to the public as they move toward major stock market listings. Both companies frame the commitment as necessary to offset workforce disruptions they expect AI to cause. The proposals have drawn skepticism from some critics.
Elice, a South Korean AI data center firm, listed on the country's secondary market and saw its shares crash more than 30% on their first day of trading. The slump came as Asian and European tech stocks broadly declined, reversing Monday's brief rebound in AI-related shares on Wall Street, with CoreWeave closing lower despite a Goldman Sachs upgrade.