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SK Hynix’s Solidigm Picks Goldman, Morgan Stanley for 2027 US IPO

SK Hynix’s flash memory unit Solidigm has selected Goldman Sachs Group and Morgan Stanley as lead underwriters for a US initial public offering planned for next year, people familiar said. The offering could raise about $10 billion. Solidigm is also finalizing a pre-IPO funding round with the two banks, with JPMorgan, Citigroup and UBS also invited to take part. Earlier reports said a listing could come as early as 2027 at a valuation of up to $100 billion.

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AI take

The choice of two bulge-bracket banks and a pre-IPO round that doubles as a bank syndicate points to a listing engineered for scale rather than speed, with underwriters effectively becoming pre-listing shareholders. That structure matters for how the deal is priced and distributed, and it ties several major banks' balance sheets to a single NAND-flash issuer. Solidigm's positioning sits at the intersection of AI-driven memory demand and a memory sector still prone to sharp cycles, so the open question is whether the stated valuation holds through the IPO window and whether the pre-IPO participants stay committed if market conditions shift.

Generated by AI for reference only.

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