SK hynix Says Solidigm Is Evaluating Ways to Improve Competitiveness

Solidigm, SK hynix’s flash-storage subsidiary, is weighing a U.S. initial public offering as early as 2027 that could raise about $10 billion and value the company at up to $100 billion.

Goldman Sachs and Morgan Stanley are being considered as lead underwriters, while JPMorgan, Citigroup and UBS are expected to participate. Solidigm is also preparing possible pre-IPO financing.

SK hynix said Solidigm is evaluating several ways to improve its competitiveness and has not confirmed a specific listing plan.

Solidigm was formed in 2021 through SK hynix’s reorganization of Intel’s flash-storage business. The company focuses on high-capacity solid-state drives for AI data centers.

In August, Solidigm signed a multiyear agreement with CoreWeave to provide enterprise storage capacity for the AI cloud platform.