South Korean memory giant SK Hynix Inc.'s U.S. subsidiary, Solidigm, is reportedly exploring an initial public offering (IPO) as early as 2027. According to a report by Reuters, the company met with investment banks this week in a competitive process to secure underwriting roles for the potential listing.
The offering could value Solidigm at up to $150 billion, potentially making it the largest U.S. semiconductor listing on record. The IPO is expected to raise as much as $15 billion, although the size and timing of the deal remain uncertain and could change depending on market conditions.
Solidigm produces enterprise SSDs for servers and data centers, focusing on the growing demand for AI-powered storage. The company was created in 2021 after SK Hynix acquired Intel Corp.'s NAND business for approximately $9 billion.
If the company reaches a $150 billion valuation, it would be significantly larger than recent chip market debuts. Arm Holdings was valued at $54 billion in 2023, while Cerebras Systems had a $56 billion valuation when it listed earlier this year. SK Hynix stated that Solidigm is "reviewing various options to strengthen its business competitiveness," but confirmed no formal plans.
