SK Hynix plans IPO for SSD subsidiary Solidigm
SK Hynix is planning for its solid-state drive (SSD) subsidiary Solidigm Inc. to list on New York Stock Exchange, according to report in the Hunkyung media outlet.
SK Hynix wants to raise funds to expand its own semiconductor production and benefit from a positive business climate around memory and AI semiconductors, the report said.
SK Hynix acquired Solidigm in October 2020 when it bought the entireity of Intel’s NAND flash memory business but excluding the 3D-XPoint phase-change memory business.
The news of an IPO emerged as SK Hynix reported its highest-ever quarterly sales. The company made a net profit 4.12 trillion won (about US$3.0 billion) on sales revenues of 16.42 trillion won (about US$11.9 billion) in the 2Q24.
The company said that continuous rise in overall prices of DRAM and NAND products with strong demand for AI memories including HBM led to a 32 percent increase in revenues compared to the previous quarter.
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SK Hynix plans initial US$6.8 billion spend on future AI base
SK Hynix has ‘sold out’ of HBM DRAMs for 2024
Intel starts sale of memory business to SK Hynix
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