SK Hynix’s Solidigm weighs IPO that could value the unit at up to US$150 billion: sources
The plans remain at an early stage and could change depending on market conditions
SK Hynix's subsidiary, Solidigm, is contemplating an initial public offering (IPO) that could value the US-based company at up to $150 billion, according to sources familiar with the matter. The IPO could be announced as early as next year, marking a potential record for semiconductor listings. Solidigm, which is the US-based NAND flash memory and solid-state drive (SSD) subsidiary of South Korea's SK Hynix, held pitch meetings with investment banks to gauge interest in the IPO, known as a "bake-off."
The IPO could raise up to $15 billion, the sources said. The listing would tap strong investor demand for companies related to artificial intelligence infrastructure, which has fueled gains in semiconductor and hardware stocks. Solidigm was spun off from SK Hynix in 2021 after SK Hynix acquired Intel's NAND memory and SSD business for about $9 billion in 2020.
The company specializes in enterprise SSDs used in servers, cloud infrastructure, and data centers, with a focus on high-capacity storage products designed for artificial intelligence applications.
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- SK Hynix's Solidigm weighs IPO that could value the unit at up to US$150 billion, sources say businesstimes.com.sg
- SK Hynix's Solidigm weighs IPO that could value the unit at up to $150 billion, sources say economictimes.indiatimes.com
