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Solidigm seeks pre-IPO funding at 50 trillion won valuation

Solidigm seeks pre-IPO funding at 50 trillion won valuation

The SK hynix subsidiary is pursuing up to 10 trillion won from global investors ahead of a possible Nasdaq listing as it ramps spending on next-generation NAND and enterprise SSDs for AI data centers.

Fact Check
Multiple independent credible outlets corroborate the claim's core facts. KED Global reports Solidigm seeks up to $7 billion (10 trillion won) at a valuation of around 50 trillion won ahead of a possible Nasdaq listing. ChosunBiz and BigGo Finance confirm the same figures, plus Morgan Stanley and Goldman Sachs as lead managers and stated use of proceeds for next-generation NAND and enterprise SSD expansion for AI data centers—matching the claim precisely. The main caveat is that SK hynix officially stated nothing is finalized (per ChosunBiz), but the claim is worded as 'seeks' funding ahead of a 'possible' listing, which is consistent with the reported ongoing plans rather than a completed transaction.
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Summary

Solidigm, SK hynix's U.S. NAND subsidiary, is pursuing a pre-IPO fundraising of 5 trillion won to 10 trillion won, or about $3.6 billion to $7.2 billion, as it explores a Nasdaq listing at a market-discussed valuation of around 50 trillion won, or about $36 billion. Morgan Stanley and Goldman Sachs have been selected as underwriters, and talks are underway with global alternative asset managers and overseas sovereign wealth funds. The capital raise comes as Solidigm pushes next-generation NAND technology and ultra-high-capacity enterprise SSDs, including a 245-terabyte drive aimed at AI data-center demand. The company was established in the U.S. in 2021 to house the NAND flash and SSD business that SK hynix agreed to acquire from Intel in 2020 for about 10 trillion won. Because Solidigm is an acquired subsidiary rather than a spinoff and its revenue remains below 10% of parent SK hynix, a listing may be possible without parent shareholder approval under recently announced duplicate-listing guidelines, though that could change if the unit grows large enough to face stricter review.

Terms & Concepts
  • pre-IPO fundraising: Capital raised from outside investors before a company pursues a stock market listing.
  • NAND flash: A type of non-volatile memory chip widely used in storage products such as solid-state drives.
  • enterprise SSDs: Solid-state drives designed for corporate and data-center workloads that require high capacity and reliability.