SK Hynix weighs a $150 billion US IPO for its Solidigm flash unit
Article excerpt
SK Hynix is reportedly gauging investment banks for a US listing of Solidigm, the NAND flash unit built from Intel's old memory business, that could value it at up to $150 billion and raise $15 billion. Solidigm has been meeting with investment banks in recent weeks. They're competing for a role on a US initial public offering that could come as soon as 2027, according to a Reuters report citing three people familiar with the matter. The talks are early and the numbers could still move, but the figures on the table are already startling: a valuation as high as $150 billion, with the offering itself raising around $15 billion. If it holds anywhere close to that level, it would be the largest semiconductor listing the US has ever seen. That's well past Arm Holdings' roughly $54 billion valuation at its 2023 debut and Cerebras Systems' near $56 billion fully diluted valuation from its IPO earlier this year. Solidigm didn't exist five years ago in its current form. SK Hynix paid Intel about $9 billion for its NAND and SSD business in a deal announced in 2020, then folded those operations into a standalone subsidiary called Solidigm in 2021. The company is based in Rancho Cordova, California, and builds enterprise solid-state drives, the flash storage that sits behind servers rather than laptops. That's the part of the memory market now caught up in the AI buildout, and it's the...
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The combined SK hynix enterprise SSD business, primarily Solidigm, pulled in $4.64 billion in revenue in the first quarter of 2026.
