SK Hynix’s Solidigm Explores IPO That Could Value Chip Unit at $150 Billion

Solidigm, the US-based NAND flash memory subsidiary of South Korea’s SK Hynix, is exploring an initial public offering as early as next year that could value the company at up to $150 billion, according to people familiar with the matter. If completed at that scale, it would rank among the largest semiconductor listings ever recorded.

Investment Banks Compete for IPO Roles

The company held pitch meetings this week with investment banks vying for roles in the offering, marking a concrete step toward a potential listing. Solidigm could raise as much as $15 billion through the IPO, though plans remain in early stages and could shift depending on market conditions. SK Hynix stated it is reviewing options to strengthen the unit’s competitiveness but has not confirmed specific plans.

Strong AI Demand Fuels Semiconductor Interest

Solidigm, based in Rancho Cordova, California, supplies enterprise solid-state drives used across servers, cloud infrastructure and data centers, with products designed specifically for AI applications requiring advanced storage capacity. SK Hynix originally acquired the NAND and SSD business from Intel for roughly $9 billion in 2020. A $150 billion valuation would significantly exceed prior semiconductor debuts, including Arm Holdings’ $54 billion valuation in 2023.