US export approval hold complicates Solidigm's New York chip plant plans

U.S. officials have held up approvals for American chipmaking equipment needed to expand SK Hynix's production in Dalian, China, complicating its subsidiary Solidigm's plans for two NAND memory plants in New York, Yahoo Finance reported, citing Reuters. Solidigm plans to invest upwards of $45 billion in the Marcy facilities. Company representatives say cash flow from expanded and upgraded Dalian production is essential to funding the U.S. project. Commerce Under Secretary Jeffrey Kessler told executives Washington would not permit additional American tools to expand or upgrade Chinese capacity. The department has not formally rejected the license application; separate talks cover routine equipment maintenance in 2027.