SK hynix is reportedly moving forward with a plan to transform Solidigm into an AI investment hub, consider a Nasdaq listing, and secure funding for AI investment through an ADR offering using its own shares.
South Korea's SK hynix is firming up plans to use Solidigm as a global strategic hub focused on expanding its AI data center-related business, while repositioning it through a governance restructuring as a subsidiary at the core of its AI investment strategy rather than merely an NAND and SSD operating company. Solidigm was formed through the acquisition of Intel's NAND and SSD business, and the restructuring is reportedly aimed at investing in AI companies and identifying opportunities in the data center market.
Market sentiment toward a potential Nasdaq listing for Solidigm is strengthening. If the listing goes ahead, it is seen as creating a structure that would allow SK hynix to attract external capital while retaining control. SK hynix says the listing remains under discussion, although some estimates put Solidigm's corporate value at approximately KRW 50 trillion.
On the funding side, SK hynix is said to have raised approximately $26.5 billion through ADR financing in July to ease the burden of funding large-scale investment solely with internal funds. This is expected to establish a financial framework to support subsequent AI investments.
Expansion of production facilities is also progressing. In addition to plans to build an HBM production facility in Indiana, U.S., major investments in the Yongin Y2 fab and Cheongju M17 fab in South Korea have been announced. Alongside the reconfiguration of production networks between the United States and China, preparations are advancing to meet growing AI demand.