Solidiam is targeting entry into the U.S. equity market and has reportedly chosen its lead underwriters. The company expects to raise about $10 billion in an IPO, with a valuation that could reach as high as $1 trillion.
Bloomberg reported on July 7 (local time) that Solidiam had selected Goldman Sachs, Morgan Stanley and other major investment banks as its underwriters. It also mentioned that JP Morgan Chase, Citi Group and UBS may join the deal, and that additional banks could be added at a later stage.
Solidiam is a company formed after SK Hynix acquired Intel’s NAND flash‑SSD business in 2021. It has restructured around supplying high‑capacity enterprise SSDs for AI data centers. In August it signed an agreement with CoreWeave to supply enterprise‑grade SSD capacity, and other major customers include Vast Data, Delt Technology, Tencent, among others.
The U.S. IPO market is currently operating in a somewhat uncertain environment, yet firms such as Solidiam are pushing ahead with listing plans. Bloomberg reported that some companies including Oura and other smart‑ring makers have postponed their own listings, while an upside trend exists for several firms to go public before the end of 2024. SK Hynix has said it is looking at ways to strengthen Solidiam’s competitive advantage but has not yet disclosed concrete plans. Solidiam, Goldman Sachs, Morgan Stanley, JP Morgan and Citi Group have all declined to comment on the matter.