SK Hynix hit by IPO concerns
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Why is SK Hynix’s potential $100 B IPO causing investor concern?
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. It's good to be with you on this final Monday in the month of September. Today is the 28th. I'm Julie Morgan. SK Hynix shares are lower before the bell following media reports that its U.S. subsidiary could be listed, which raises concerns about its ownership structure. SK Hynix is down 4% in pre-market action after Bloomberg confirmed over the weekend that Soladyne is considering a U.S. initial public offering as soon as next year. It could value the data storage product maker at as much as $100 billion.
How could a U.S. listing of Solidigm change SK Hynix’s ownership structure?
According to the Korea Corporate Governance Forum, an IPO of Solidigm would add to the multiple layers of ownership within the group, deepening the pyramid ownership structure. Korea Corporate Governance Forum is a non-profit of investment professionals. According to the report, back in August, it urged SK Hynix to drop the plan. Larry Ellison has pledged 67 million more Oracle shares as collateral for personal loans than he had a year earlier. Of course, we know that Ellison is a key figure behind the Paramount Skydance deal to buy Warner Bros. Discovery. The pledges, which were disclosed in an Oracle proxy filing on Friday, represent a 19% increase from 2025. The shares Ellison has pledged are worth more than $9.2 billion at Oracle's closing price of $137.10 on Friday and represent about 36% of his total holdings.
Oracle officers and directors are generally prohibited from pledging company shares as collateral for personal loans, with Ellison the sole exception.
What does Larry Ellison’s increased Oracle‑share pledge mean for his personal loans?
The pledges come as Ellison helped finance Paramount Skydance's multi-billion dollar acquisition of Warner Brothers Discovery, with the Ellison family committing $47 billion in equity funding for the transaction. SpaceX is planning to launch its massive Starship rocket this morning, aiming to send the spacecraft into orbit for the first time. According to SpaceX's website, the 75-minute launch window begins at 8.15 a.m. Eastern Time or 7.15 a.m. Local Time from the company town of Starbase, Texas. The Federal Aviation Administration told CNBC that it issued a license authorization for the SpaceX Starship Super Heavy Flight 14 launch and re-entry operations on September 26. The company also plans to deploy 26 of its new Starlink V3 satellites.
Now for a look at a few other articles that are trending. NVIDIA introduces an open-source tool to boost AI security.
When is SpaceX’s Starship launch scheduled and what are the key details?
The governor of California signs a bill restricting meme coins tied to public officials. And Michael Burry is weighing in on AI and the administration. He says Trump cannot afford to let the AI boom fail. I have one item to tell you about on our Catalyst Watch for the day. Notable investor events include Total Energy's Investor Day. On Wall Street at this early hour, stock index features are in the red. Crude oil is up 3.7% at $95 a barrel. Brent crude is also up 3.7% at $108. The FTSE 100 is up 0.3% and the DAX is up 0.1%.
Which other market moves (Nvidia AI tool, meme‑coin bill, Michael Burry’s AI view) are highlighted today?
NIO is on our biggest movers list. NIO is up 2% after Geely agreed to acquire a 30% stake in NIO's battery swapping business in a deal valuing the unit at roughly $2.4 billion. And on today's economic calendar, I have one item for you. At 10.30 a.m., the Dallas Fed Manufacturing Survey. That's it for today's Wall Street Breakfast. Thanks for listening. To take full advantage of Seeking Alpha with coverage on significant stocks and ETFs, become a premium subscriber. Check out seekingalpha.com slash subscriptions. I'm your host, Julie Morgan. Go out and make it a great day.
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Chapters
5 chapters
1
Why is SK Hynix’s potential $100 B IPO causing investor concern?
0:01–0:42
2
How could a U.S. listing of Solidigm change SK Hynix’s ownership structure?
0:42–1:49
3
What does Larry Ellison’s increased Oracle‑share pledge mean for his personal loans?
1:49–2:54
4
When is SpaceX’s Starship launch scheduled and what are the key details?
2:54–3:42
5
Which other market moves (Nvidia AI tool, meme‑coin bill, Michael Burry’s AI view) are highlighted today?
3:42–4:26