SK Hynix’s U.S. subsidiary, Solidigm, is reportedly considering an initial public offering as early as next year. The NAND flash memory and solid-state drive (SSD) maker could be valued at up to $150 billion. The listing could raise as much as $15 billion and rank among the largest semiconductor IPOs on record in the United States.
Solidigm held pitch meetings with investment banks this week, with banks vying for roles in a potential listing. Strong investor demand for companies tied to artificial intelligence infrastructure is driving interest in the business. Solidigm’s products are important to servers and data centers.
SK Hynix announced its acquisition of the business from Intel in 2020. The deal was valued at about $9 billion. SK Hynix launched Solidigm as a standalone subsidiary in 2021.
SK Hynix said Solidigm is reviewing options to strengthen its business competitiveness, but no specific plans have been confirmed.