SK Hynix’s Solidigm Mulls $150 B IPO, Could Become Largest US Chip Listing
Solidigm, SK Hynix’s U.S. NAND flash and SSD unit, is weighing an initial public offering that could value the subsidiary at up to $150 billion and raise roughly $15 billion.
Three insiders report that Solidigm, the U.S. NAND flash and solid-state drive subsidiary of South Korea’s SK Hynix, is preparing an IPO that could value the unit at as much as $150 billion and generate $15 billion in proceeds. The company has held recent pitch sessions with multiple banks, a "bake-off" that marks a tangible advance toward a possible listing next year. While the exact deal size and timing are still early-stage and market-dependent, the offering would likely become the largest U.S. semiconductor flotation on record, tapping heightened demand for firms tied to artificial-intelligence infrastructure.
Based in Rancho Cordova, California, Solidigm provides enterprise-grade SSDs used in servers, cloud platforms and data centers, and has been positioning its products for AI workloads that require massive storage capacity. The unit was formed after SK Hynix bought Intel’s NAND memory and SSD operations for roughly $9 billion in 2020 and spun them off as Solidigm in 2021. Recent reports also suggest the company is evaluating a U.S. NAND fab, with upstate New York emerging as a leading site. A valuation of up to $150 billion would dwarf recent chip IPOs such as Arm Holdings and Cerebras Systems.
Why it matters
A $150 billion IPO would reshape the U.S. semiconductor market and signal strong investor confidence in AI-driven storage technology.
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