SK hynix has selected Goldman Sachs and Morgan Stanley as lead underwriters for a U.S. IPO of its flash memory unit, Solidigm. The offering could take place as early as next year, raise around $10 billion and value Solidigm at up to $100 billion. JPMorgan Chase, Citigroup and UBS are also expected to join the underwriting syndicate.
SK hynix established Solidigm in 2021 after acquiring Intel’s NAND and solid-state drive (SSD) business. Solidigm makes high-capacity SSDs for AI data centers, where demand is strong.
The IPO is intended to give the business a standalone valuation and raise capital for future growth, including investment in next-generation technology.