Solidigm, a subsidiary of SK Hynix focused on NAND flash and solid-state drive (SSD) businesses, is reportedly planning to pursue an initial public offering (IPO) in the United States as early as next year.
Reuters reported on September 25 that Solidigm held meetings with investment banks this week to select underwriters for the IPO.
The company is considering raising up to $15 billion in the IPO, with a potential valuation of up to $150 billion. However, multiple sources told Reuters that the deal size and timing are still in the early stages of review and may change depending on market conditions.
If successful, this IPO could become one of the largest for a semiconductor company in the U.S. ARM Holdings was valued at approximately $54 billion during its IPO in 2023, while Cerebras Systems, which went public this year, had a valuation of about $56 billion based on its offering price.
Solidigm is headquartered in Rancho Cordova, California, and supplies enterprise SSDs used in servers, cloud infrastructure, and data centers. With the increasing demand for large-capacity storage driven by artificial intelligence (AI) data processing, the company is also developing high-capacity storage products for AI applications.
SK Hynix acquired Intel's NAND memory and SSD business for about $9 billion in 2020, establishing Solidigm as an independent subsidiary in 2021. Earlier this year, Solidigm became a subsidiary of AI Company, an investment subsidiary established by Hynix in the U.S.
Solidigm is also reportedly considering building NAND flash production facilities in the United States.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.