SK Hynix’s Solidigm said to mull IPO that could value unit at $150B

Investing.com -- SK Hynix’s US-based subsidiary Solidigm is exploring an initial public offering as soon as next year that could value the company at up to $150 billion, according to a Friday report by Reuters.

The chipmaker held pitch meetings this week with investment banks competing for roles on the IPO, marking a step toward what could become the largest-ever US semiconductor listing.

Solidigm could raise $15 billion in the IPO, the report said. The plans, including the deal size and timing, remain at an early stage and could change depending on market conditions.

The listing would rank as one of the largest semiconductor IPOs on record and could provide a standalone valuation for a business that has become a key part of SK Hynix’s storage portfolio.

Solidigm, based in Rancho Cordova, California, is the US-based NAND flash memory and solid-state drive subsidiary of South Korea’s SK Hynix.

SK Hynix acquired Intel’s NAND memory and SSD business for about $9 billion in a deal announced in 2020, combining those operations with Solidigm, which was launched as a standalone subsidiary in 2021.

Solidigm supplies enterprise SSDs used in servers, cloud infrastructure and data centers. The company has sought to differentiate itself through high-capacity storage products designed for AI applications.

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