NAND memory supplier launches investment bank pitch process to capitalise on surging AI storage infrastructure demand.
Solidigm, the US-based solid-state drive (SSD) and NAND flash memory subsidiary of South Korea’s SK Hynix, is considering an initial public offering (IPO) as early as next year that could value the firm at up to $150 billion, according to sources familiar with the matter.
The California-headquartered company held pitch meetings with prospective investment banks this week to select underwriters for the listing. If realised, the float could raise approximately $15 billion, positioning it as one of the largest semiconductor IPOs on record and easily surpassing recent debuts such as Arm Holdings’ $54 billion valuation in 2023 and Cerebras Systems’ $56 billion valuation earlier this year. However, transaction details including timing and offering size remain preliminary and subject to market conditions.
The potential float reflects growing investor appetite for enterprise hardware tied to artificial intelligence infrastructure. Solidigm specialises in high-capacity enterprise SSDs used in cloud data centres, where massive data sets require high-density storage solutions. The business was formed following SK Hynix’s $9 billion acquisition of Intel’s NAND and SSD operations in 2020, launching as an independent subsidiary in 2021 to strengthen the parent company’s global memory portfolio.
The IPO plans coincide with broader strategic expansion efforts across the United States. Solidigm is evaluating sites for a domestic NAND flash fabrication plant, with upstate New York identified as a primary candidate. The listing proposal follows recent reports that the company was exploring a pre-IPO funding round of approximately $3.6 billion to bolster operational competitiveness ahead of a public debut.
