Solidigm seeks $10B US IPO with Goldman Sachs, Morgan Stanley
Solidigm, the flash memory arm of South Korea's SK Hynix, is lining up a huge $10 billion IPO in the US.
They've tapped Goldman Sachs and Morgan Stanley to lead the charge, and if all goes well, the listing could happen as early as 2027, with a potential valuation reaching $100 billion, according to Bloomberg.
Solidigm supplies high capacity AI drives
Formed in 2021 after SK Hynix bought Intel's flash memory business, Solidigm now operates across 13 locations with more than 2,000 employees.
Their specialty? High-capacity drives built for AI data centers, a hot market right now.
They've recently teamed up with CoreWeave Inc. and count big names like Dell Technologies and Tencent among their clients.
Even though SK Hynix shares dipped a bit on the news, Solidigm seems determined to keep pushing forward in the competitive memory game.