Solidigm taps Goldman Sachs and Morgan Stanley for $10bn US IPO slated for 2027

Solidigm, the flash-memory arm of South Korea’s SK Hynix, has appointed Goldman Sachs and Morgan Stanley as the lead underwriters for a US initial public offering that may occur in 2027 and aim to raise around $10 billion. The two banks are also working with Solidigm on a pre-IPO financing round, and additional banks—including JPMorgan Chase, Citigroup and UBS—have been tapped for the transaction. The potential listing could value the company at as much as $100 billion.

Solidigm, created in 2021 after SK Hynix acquired Intel’s flash memory business, now focuses on high-capacity solid-state drives for AI data-centre workloads, counting customers such as CoreWeave, Vast Data, Dell Technologies and Tencent. The firm operates from its headquarters in Rancho Cordova, California, with more than 2,000 staff across 13 sites worldwide. A spokesperson for SK Hynix said the subsidiary is reviewing options to boost competitiveness, but no definitive plan has been confirmed.