SK Hynix Unit Solidigm Plans US IPO Next Year, Targeting $100 Billion Fundraise
SingTao · 2 SOURCES1 day ago2 MIN
Summary
SK Hynix's flash memory subsidiary Solidigm is accelerating its path to the public markets, selecting Goldman Sachs and Morgan Stanley as the lead underwriters for a planned US initial public offering next year . The IPO could raise approximately $100 billion (about HK$780 billion), with the company potentially valued at up to $1 trillion . Solidigm is simultaneously working with the banks to arrange a pre-IPO financing round to strengthen its capital position before listing .
Key Points
- Solidigm, established in 2021 following SK Hynix's acquisition and renaming of Intel's flash memory business, has appointed Goldman Sachs and Morgan Stanley as lead underwriters for the planned US IPO
- The fundraising target stands at approximately $100 billion, translating to about HK$780 billion, with a potential valuation reaching $1 trillion
- Additional banks participating in the IPO include JP Morgan, Citi, and UBS, with negotiations still ongoing and adjustments possible
- The company focuses on supplying high-capacity solid-state drives (SSDs) for AI data centers, having signed an enterprise SSD supply agreement with AI cloud provider CoreWeave in August
- Other major clients include Vast Data, Dell, and Tencent, while SK Hynix stated that specific plans remain unconfirmed
Why It Matters
If completed as planned, the Solidigm IPO would represent one of the largest stock market debuts in history, highlighting the growing importance of memory technology in AI infrastructure development . The listing would provide SK Hynix with a mechanism to unlock value from its subsidiary while positioning Solidigm to attract capital for expansion in the competitive AI memory sector .
If completed as planned, the Solidigm IPO would represent one of the largest stock market debuts in history, highlighting the growing importance of memory technology in AI infrastructure development . The listing would provide SK Hynix with a mechanism to unlock value from its subsidiary while positioning Solidigm to attract capital for expansion in the competitive AI memory sector .