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Solidigm IPO: $100B Chip Giant Eyes US Listing
8 Oct
Summary
- Solidigm plans a U.S. IPO aiming for a $100 billion valuation.
- The flash memory unit could raise up to $10 billion in the offering.
- SK Hynix unit's IPO faces scrutiny over potential shareholder dilution.
Solidigm, SK Hynix's flash memory subsidiary, is preparing for a potential initial public offering in the United States, with a valuation target of up to $100 billion. The company has reportedly selected Goldman Sachs and Morgan Stanley as lead underwriters for the deal, which could raise around $10 billion.
This move, anticipated as early as 2027, has sparked debate in South Korea. Concerns have been raised by critics who believe a separate listing for Solidigm could dilute the value for existing SK Hynix shareholders. Regulatory measures in South Korea are in place to deter most parent-subsidiary listings domestically.
Solidigm, established in 2021 after SK Hynix acquired Intel's NAND flash business, is headquartered in Rancho Cordova, California. The company specializes in high-density storage solutions, catering to AI data center clients. Its customer base includes prominent firms like CoreWeave and Dell Technologies.
