[Edaily Reporter KIM YOON JI ] Bloomberg reported on the 7th (local time) that Solidigm, a subsidiary of SK hynix(000660), has selected lead underwriters for its initial public offering (IPO) on the U.S. stock market next year.
According to sources, Solidigm, the flash memory subsidiary of SK hynix, has selected Goldman Sachs and Morgan Stanley as lead underwriters for its IPO. Bloomberg projected that the company could raise approximately $10 billion (about 13.4 trillion won) through this IPO. Separately, Bloomberg reported that a pre-IPO funding round for Solidigm, led by the two investment banks, is in its final stages.

J.P. Morgan Chase, Citigroup, and UBS are also reportedly included in the underwriting syndicate for Solidigm’s IPO. Sources stated that discussions are still ongoing, so details are subject to change, and additional underwriters may be selected.
An SK hynix spokesperson stated, “Our subsidiary Solidigm is reviewing various measures to strengthen its business competitiveness, but no specific plans have been finalized as of yet.”
Solidigm was launched after SK hynix acquired Intel’s NAND flash memory business in 2021 and rebranded the unit. Since then, Solidigm has repositioned itself as a supplier of high-capacity storage devices used in AI data centers.
In August of this year, Solidigm signed a contract with CoreWeave to supply enterprise-grade solid-state drives (SSDs). These products can support the operation of CoreWeave’s AI cloud platform.
According to Solidigm’s website, its major customers include BestData, Dell Technologies, and Tencent.
Headquartered in Rancho Cordova, California, Solidigm has operations in 13 locations worldwide, including Mexico, Canada, and China, and employs more than 2,000 people.
Recently, the U.S. IPO market has shown signs of slowing down despite several mega-deals. Gas station chain EG CORPORATION, nuclear energy firm HANTECH LTD., smart ring startup Oura, and data center provider SB Energy have all put their U.S. listing plans on hold in recent weeks. Bamboo Insurance also postponed its IPO last month. OpenAI, considered a “big fish” in the IPO market, has also delayed its listing until next year.
In contrast, the artificial intelligence (AI) company Anthropic is expected to proceed with its listing before the U.S. Thanksgiving holiday. Competitors such as OpenAI and flash memory company Kioxia Holdings are aiming for listings next year.