Solidigm Eyes U.S. IPO at Up to $100 Billion Valuation
Article excerpt
Highlighted: the sentence this signal was extracted from
Solidigm, SK hynix's U.S.-based NAND flash subsidiary, has taken a major step toward a potential U.S. stock listing after selecting Goldman Sachs and Morgan Stanley as lead underwriters. Market observers estimate that the company could raise up to $10 billion through the initial public offering (IPO) and achieve a valuation of as much as $100 billion. According to Bloomberg and other foreign media reports on Oct. 8, Solidigm selected Goldman Sachs and Morgan Stanley as lead underwriters for the IPO, with JPMorgan Chase, Citigroup and UBS also joining the underwriting syndicate. A listing could take place as early as next year or in 2027. Solidigm is also reportedly in the final stages of negotiations to raise funds through a pre-IPO stake sale ahead of the public offering. The high valuation expectations surrounding Solidigm are being driven by surging demand for high-capacity storage as the artificial intelligence (AI) market expands. Solidigm was established in 2021 after SK hynix acquired Intel's NAND flash and solid-state drive (SSD) business. The company now focuses on enterprise SSDs (eSSDs), which are widely used in AI data centers and cloud infrastructure. Solidigm has recently expanded its customer base through a supply agreement with CoreWeave, an AI cloud platform provider. Its customer base also includes global technology companies such as Dell Technologies...
Keep reading with a free account
The rest of this article, and every signal for Goldman Sachs, is in your free account.