Rumor has it that SK Hynix (SKHY.US)'s flash memory division has selected Goldman Sachs Damo to take the lead in the 2027 US IPO

The Zhitong Finance App learned that according to people familiar with the matter, SoliDigm, a flash memory business subsidiary of SK Hynix (SKHY.US), has selected the lead bank for next year's US IPO. Goldman Sachs Group and Morgan Stanley are responsible for this launch, with a financing scale of about 10 billion US dollars. People familiar with the matter said that Solidigm is cooperating with these two banks at the same time to finalize a round of pre-IPO financing.

People familiar with the matter said that J.P. Morgan Chase, Citigroup, and UBS Group have also been invited to participate in Solidigm's IPO. According to previous reports, the listing may be carried out as early as 2027, with a valuation of up to 100 billion US dollars.

People familiar with the matter said that relevant discussions are still ongoing, details may change, and more banks may be added.

A SK Hynix spokesperson said that its subsidiary Solidigm is evaluating various options to enhance business competitiveness, but no specific plans have been confirmed yet. Representatives for Solidigm, Goldman Sachs, Morgan Stanley, J.P. Morgan Chase, and Citi all declined to comment. UBS did not respond to requests for comment.

The world's second-largest memory chip maker's American Depositary Receipts fell 4.3% on Friday. Previously, after the company completed its $26.5 billion listing in July — the largest IPO in the history of a non-US company — the insider stock sale lockdown period came to an end.

Despite a series of huge deals, the pace of US IPOs has slowed somewhat. Several companies, including smart ring maker Oura, have delayed anticipated listings in recent weeks. Although Anthropic PBC is expected to go public before Thanksgiving in the US, other companies such as AI rival OpenAI and flash memory maker Kioxia Holdings are aiming to go public next year.

Solidigm was launched in 2021 after SK Hynix acquired Intel's flash memory business and changed its name. The South Korean company's division has repositioned itself as a supplier of high-capacity hard drives used in AI data centers.

In August, SoliDigm reached an agreement with CoreWeave Inc. to sell enterprise-grade solid-state drive capacity to support its AI cloud platform. According to its website, other customers include Vast Data, Dell Technologies, and Tencent Holdings.

Headquartered in Rancho Cordova, California, Solidigm has 13 locations worldwide, including Mexico, Canada, and China, and employs more than 2,000 people.