SK Hynix's flash memory unit, Solidigm, is reportedly preparing for a US initial public offering in 2027 that could raise $10 billion and value the company at up to $100 billion. Solidigm has selected Goldman Sachs and Morgan Stanley as lead underwriters and is working with them to finalize a pre-IPO funding round. The company, which was formed in 2021 from Intel's flash memory business, has pivoted to supplying high-capacity drives for AI data centers.
Banks selected for the IPO
- ▪Solidigm has tapped JPMorgan Chase, Citigroup, and UBS Group to participate in its planned initial public offering
- ▪Solidigm selected Goldman Sachs and Morgan Stanley as lead banks to work on its planned US initial public offering
Plans for Solidigm's IPO
- ▪SK Hynix's flash memory unit, Solidigm, is planning a US initial public offering that could take place as soon as 2027
- ▪Solidigm is working with Goldman Sachs and Morgan Stanley to finalize a pre-IPO funding round
- ▪A spokesperson for SK Hynix stated that Solidigm is reviewing options to strengthen competitiveness, but no specific plans have been confirmed as of October 8, 2026
- ▪The planned US initial public offering of Solidigm could raise approximately $10 billion and value Solidigm at up to $100 billion
Solidigm's business and history
- ▪Solidigm was established in 2021 after South Korean firm SK Hynix acquired Intel's flash memory business
- ▪Solidigm provides high-capacity drives used in artificial intelligence data centers, serving customers such as CoreWeave, Vast Data, Dell Technologies, and Tencent
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