Solidigm Plans $45B US NAND Fab, Seeks Approval by Offering China Expansion
nashnova research
SK Hynix subsidiary Solidigm is negotiating with the U.S. Commerce Department to build a $45 billion NAND flash fab in the United States — but only if Washington first approves new equipment for its existing plant in Dalian, China, putting America's reshoring push and its China export controls on a direct collision course.
What is the deal structure?
Solidigm is proposing a "China first, U.S. second" investment path: win approval to upgrade Dalian, use the revenue to fund the American fab.
This means → the U.S. fab is not a standalone project. It is financially contingent on Chinese expansion.
Long-term U.S. investment could reach $100 billion, but the first $45 billion hinges on whether Dalian gets the green light.
What equipment does the Dalian plant need?
Solidigm wants to install tools from three U.S. suppliers — Lam Research, Applied Materials, and KLA — in unused space at the Dalian fab.
In plain terms = the gear is all American-made, and the destination is China — squarely in the export-control hot zone.
The U.S. fab site is still under review; New York State is one candidate. Construction could start as early as 2027, but no final decision has been made.
Why is approval so difficult?
In August 2025, the Commerce Department revoked special authorizations that had let SK Hynix and Samsung ship certain equipment to their Chinese fabs without individual export licenses.
The new licensing framework, in principle, only approves equipment needed to maintain existing capacity — not to expand or upgrade it.
This means → Solidigm's Dalian request lands right on the policy red line, and the outcome is highly uncertain.
What deeper tension does this reveal?
Washington is pursuing two goals at once: bring chip manufacturing home, and block China from accessing advanced equipment. In Solidigm's deal, those two goals directly collide.
Put simply = to get the American fab built, you first need the Chinese fab to earn more money — but letting the Chinese fab upgrade violates the current controls.
This reflects a structural tension in U.S. semiconductor policy: reshoring needs capital, and the capital sits inside the restricted zone.
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