Solidigm, the flash memory unit owned by SK Hynix, has selected Goldman Sachs and Morgan Stanley as lead underwriters for a potential U.S. initial public offering, according to ChainCatcher, citing people familiar with the matter. The company is targeting a listing as early as 2027, with plans to raise about $10 billion and seek a valuation of as much as $100 billion. JPMorgan Chase, Citigroup and UBS are also expected to join the deal, while Solidigm is preparing pre-IPO financing at the same time. Solidigm was formed in 2021 after SK Hynix reorganized Intel’s flash business that it had acquired. The company now focuses on high-capacity solid-state drives for AI data centers. In August this year, it signed a multi-year agreement with CoreWeave to provide enterprise storage support for the company’s AI cloud platform. SK Hynix said Solidigm is reviewing a range of options to strengthen its business competitiveness and that no specific listing plan has been confirmed at this stage.
Solidigm, SK Hynix’s flash memory subsidiary, has chosen Goldman Sachs and Morgan Stanley as the lead underwriters for a potential U.S. initial public offering, according to ChainCatcher, which cited people familiar with the matter. The listing is being targeted as early as 2027.
The report said Solidigm plans to raise about $10 billion, with a valuation that could reach as much as $100 billion. JPMorgan Chase, Citigroup and UBS are also set to take part in the offering. At the same time, Solidigm is preparing pre-IPO financing.
Solidigm was created in 2021 through the reorganization of Intel’s flash business acquired by SK Hynix. The company currently supplies high-capacity solid-state drives mainly for AI data centers. In August this year, Solidigm reached a multi-year agreement with CoreWeave to provide enterprise-grade storage support for its AI cloud platform.
Responding to the report, SK Hynix said Solidigm is evaluating various options to improve its business competitiveness and that no specific IPO plan has been confirmed so far.
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