Memory Storage Giant Solidigm Explores Record U.S. Stock Listing

2026-09-26 companies

San Jose, Friday, 25 September 2026.
SK Hynix’s storage subsidiary Solidigm is weighing a U.S. public listing that could value the company at $150 billion, positioning it as the largest semiconductor market debut in history.

IPO Structure and Timeline Details

Solidigm is targeting a U.S. stock listing as early as 2027, with a potential valuation of up to $150 billion and a fundraising goal of roughly $15 billion [1][6]. The company held pitch meetings, known as a “bake-off,” with investment banks during the week of September 21, 2026, to select underwriters for the potential offering [2][7]. These plans remain in the early stages, and the deal size or timing could change depending on market conditions [5][8]. If successful, the listing would mark one of the largest technology public debuts in recent history, reflecting strong investor appetite for key hardware suppliers in the semiconductor supply chain [1][4].

Corporate Background and Strategic Focus

Headquartered in Rancho Cordova, California, Solidigm was launched as an independent subsidiary in 2021 after SK Hynix acquired Intel’s NAND business [3][6]. The acquisition was announced in 2020 for approximately $9 billion, combining operations to strengthen the parent company’s position in the global memory market [2][6]. Solidigm specializes in NAND flash memory and enterprise SSDs for AI data centers and servers, benefiting from rising demand for high-capacity storage products designed for AI applications [1][5]. In August 2026, SK Hynix confirmed a review of strategies to bolster Solidigm’s competitiveness following reports of a seek for pre-IPO funding of approximately 5 trillion won [5][6].

Market Comparisons and Manufacturing Expansion

A $150 billion valuation would significantly exceed recent semiconductor IPOs, such as Arm Holdings at $54 billion in 2023 and Cerebras Systems at approximately $56 billion in 2026 [5][6]. The potential valuation gap is substantial, exceeding the Arm Holdings listing by 96 billion [1][6]. Concurrently, Solidigm is reportedly considering the construction of a U.S.-based NAND flash memory chip plant, with upstate New York identified as a potential location [3][5]. While Solidigm and SK Hynix declined or did not immediately respond to requests for comment regarding the report dated September 25, 2026, the move underscores a strategy to diversify manufacturing beyond Dalian, China [1][6].

Sources

Semiconductors Solidigm IPO