Solidigm Prepares for US IPO with Goldman and Morgan Stanley, Valuation Up to $100B

October 8 — Reuters and Bloomberg reported today that Solidigm, a subsidiary of SK Hynix, has selected Goldman Sachs and Morgan Stanley as lead underwriters for its planned U.S. initial public offering (IPO) next year. The listing could raise approximately $10 billion, with a valuation potentially reaching up to$100 billion (IT Home note: equivalent to approximately RMB 671.193 billion at current exchange rates).

Sources familiar with the matter stated that JPMorgan Chase, Citigroup, and UBS have also been chosen to participate in Solidigm’s IPO efforts. Additionally, Solidigm is working with Goldman Sachs and Morgan Stanley to finalize a pre-IPO funding round. However, discussions are ongoing, details may change, and more banks could join the process.

A spokesperson for SK Hynix responded by stating that its subsidiary Solidigm is evaluating various options to enhance business competitiveness, but no specific plans have been confirmed yet. Representatives from Solidigm, Goldman Sachs, Morgan Stanley, JPMorgan Chase, and Citigroup declined to comment, while UBS did not respond to requests for comment.

Prior to this, on September 30, SK Hynix issued a clarification statement on its official website, noting that “regarding Solidigm, nothing has been determined as of today.” The company emphasized that any financing method would prioritize long-term value for existing shareholders and carefully assess whether external capital usage is preferable to internal funds.

Public records show that Solidigm was established in 2021, formed after SK Hynix completed the phased acquisition and rebranding of Intel’s NAND flash and storage business. Headquartered in Rancho Cordova, California, USA, the company operates 13 locations globally, including sites in Mexico, Canada, and China, with over 2,000 employees.