Solidigm eyes record IPO
SK hynix Subsidiary Solidigm Weighs U.S. IPO Valued Up To $150 Billion
Anonymous
SK hynix’s U.S.-based NAND flash and SSD subsidiary, Solidigm, is weighing a U.S. IPO as early as next year, potentially valuing the company at up to $150 billion. Solidigm held presentations with investment banks as it considers advisers and underwriters, and the offering could raise about $15 billion. The plans remain preliminary, and the timing and size could change with market conditions. An IPO would give investors a separate stake in a business supplying data-storage products for servers, cloud infrastructure and data centers, where demand is being boosted by AI growth.
Key Points
1
Solidigm was formed after SK hynix agreed in 2020 to acquire Intel’s NAND memory and SSD business for about $9 billion; those operations were combined under Solidigm in 2021.
2
Last month, SK hynix said it was considering steps to strengthen Solidigm’s competitiveness, following reports of possible pre-IPO financing of about 5 trillion won (roughly $3.6 billion).
3
At a potential $150 billion valuation, Solidigm would be valued far above Arm Holdings, which was valued at about $54 billion during its 2023 market debut.
4
Solidigm is headquartered in Rancho Cordova, California, and is seeking to distinguish itself with high-capacity SSDs designed for AI applications.
5
If completed at the proposed scale, the offering could become the largest listing ever by a U.S. semiconductor company, according to the report.
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