Key points
- Solidigm is weighing an IPO at a valuation of up to $150 billion
- The offering could raise $15 billion as early as 2027
- First-half net income was $4.3 billion
- SK Hynix says nothing has been confirmed
Solidigm, the US storage unit of SK Hynix (SKHY), is weighing an IPO that could raise $15 billion and value the business at up to $150 billion, Reuters reported Friday, citing three people familiar with the matter. The offering could come as early as 2027.
The company held meetings this week with investment banks pitching for roles on the listing. No banks have been named, and the size and timing remain preliminary, according to Reuters. Bloomberg separately reported Friday that Solidigm is considering a US IPO as soon as 2027.
Solidigm declined to comment to Reuters, and SK Hynix didn't immediately respond. Korean markets were closed on Thursday and Friday for the Chuseok holiday, and SK Hynix hasn't filed a new disclosure. In its most recent one, filed September 4, the company said: "Our overseas subsidiary Solidigm is reviewing various measures to strengthen competitiveness, but nothing has been confirmed so far." It set December 3 as the date for its next update.
What Solidigm earns now
Solidigm is the NAND flash and enterprise SSD business SK Hynix bought from Intel in a deal valued at about $9 billion, announced in 2020. Its drives go into servers and data centers, where AI workloads have pushed up demand for high-capacity storage.
In the first half of 2026, the business had revenue of 12.25 trillion won ($9.0 billion) and net income of 5.84 trillion won ($4.3 billion), according to summarized figures in SK Hynix's half-year report. A year earlier, it had revenue of 3.36 trillion won ($2.5 billion) and net income of 132 billion won ($97 million).
The potential IPO valuation is far above the valuation reported for an August pre-IPO fundraising proposal. At the time, Korean media said Solidigm was seeking to raise money at a valuation near 50 trillion won ($37 billion), as we reported then. Reuters compared the possible valuation with Arm's roughly $54 billion value at its 2023 debut and Cerebras' approximately $56 billion fully diluted value at its 2026 IPO.
Reuters also reported earlier this month that Solidigm is considering a NAND chip factory in the US, with upstate New York a leading candidate.
SK Hynix shares
SK Hynix's US-listed shares were up 2.9% at $191.72 as of 3:20 p.m. ET, with most of the gain coming at the open, before the report was published. Ten SKHY shares represent one SK Hynix share in Seoul, where the stock hasn't traded since September 23 because of the holiday.
The September 4 disclosure is translated from Korean. Won figures are converted at 1,357.10 won to the dollar, Naver Finance's closing rate on September 23, 2026.
