September 28, 2026 / SemiMedia / — SK hynix's U.S.-based storage subsidiary Solidigm is considering an initial public offering as early as 2027 that could value the company at up to $150 billion and raise as much as $15 billion, according to people familiar with the matter. The plans remain at an early stage and could change depending on market conditions.

Solidigm held pitch meetings this week with investment banks competing for underwriting roles in the potential IPO, marking a more concrete step in preparations for a possible listing. Solidigm declined to comment, while SK hynix said it is reviewing various options to strengthen the subsidiary's competitiveness but that no specific plan has been confirmed.

Based in Rancho Cordova, California, Solidigm is SK hynix's U.S. NAND flash and enterprise SSD subsidiary. SK hynix announced its roughly $9 billion acquisition of Intel's NAND memory and SSD business in 2020, with Solidigm launched as a standalone subsidiary in 2021.

Solidigm supplies enterprise SSDs for servers, cloud infrastructure and data centers and has been expanding high-capacity storage products designed for AI workloads. Rapid growth in AI training and inference is increasing the volume of data stored and processed in data centers, raising the importance of high-density enterprise storage alongside GPUs and other compute infrastructure.

The company is also considering expanding its U.S. manufacturing footprint. Reuters reported earlier this month that Solidigm is evaluating a NAND flash fab in the United States, with upstate New York emerging as a leading candidate. SK hynix has also previously acknowledged that it is considering measures to strengthen Solidigm following reports of a possible pre-IPO funding round of about KRW5 trillion, or roughly $3.6 billion.

A valuation near $150 billion would be substantially higher than several recent semiconductor IPOs. Arm was valued at about $54.5 billion in its 2023 debut, while Cerebras Systems entered the public market in 2026 at a fully diluted valuation of approximately $56.4 billion. If completed near the upper end of the reported range, Solidigm's offering could rank among the largest semiconductor listings in U.S. market history.