Solidigm, SK Hynix’s US NAND flash and enterprise storage unit, is seeking a pre-IPO funding round of roughly $7B that could set up a Nasdaq listing, according to Korean media reports.
KED Global reported the round could value the company near KRW 50 trillion, and DigiTimes pegged the raise at between KRW 5 trillion and KRW 10 trillion. SK Hynix responded with a regulatory filing saying Solidigm is pursuing a pre-IPO capital raise of approximately KRW 5 trillion, about $3.5B, without confirming the larger figure.
Solidigm makes high-capacity enterprise SSDs for AI data centers, where NAND demand has climbed alongside HBM. A Nasdaq listing would follow SK Hynix’s own American depositary receipts debut on the exchange on July 10 and give the Korean memory giant a US-listed vehicle for its storage business.
The move is part of a wave of memory-industry capital raising as AI-driven demand keeps DRAM and NAND prices elevated. Solidigm’s enterprise SSD lineup, including a 122TB drive unveiled in 2024, positions it as a direct supplier to hyperscale data center builders.
No final decision on the round size or listing has been announced, and SK Hynix said details remain under review.
