Solidigm, a U.S. subsidiary of South Korean chip maker SK Hynix, is weighing an initial public offering as early as next year, Reuters reported Friday, citing people familiar with the matter.

The IPO could raise about $15 billion and value Solidigm at as much as $150 billion, the report said. Solidigm specializes in flash data-storage hardware-a corner of the hardware industry that is thriving amid the artificial-intelligence boom.

A spokesperson for Solidigm declined to comment. SK Hynix didn't immediately respond to Barron's request for comment.

The potential IPO would mark a deeper push into the U.S. public market for SK Hynix, which is the world's leading memory chip maker by revenue. The company raised $26.5 billion when it issued American depositary receipts in July, with Barron's arguing at the time that it was a better bet than U.S. rival Micron Technology.

SK Hynix's U.S. listing is up 14% since its first closing price on July 10. Shares rose 2.7% on Friday.

SK Hynix agreed to buy Intel's flash memory business for $9 billion in 2020, before turning the assets into Solidigm, which is based in Rancho Cordova, California. A $150 billion valuation would represent a handsome profit for SK Hynix.

Solidigm sells solid-state drives, fast data-storage devices used by data centers and businesses, competing with Sandisk and Samsung Electronics. The subsidiary announced a long-term supply deal with AI infrastructure company CoreWeave earlier this year. It also counts Nvidia as a customer.

For investors, Solidigm's IPO could be yet another way to play the memory market, which has benefited from tight supply, booming demand, and widening margins.

Beyond SK Hynix's U.S. listing earlier this year, Sandisk spun off from Western Digital in February 2025 to great success, and the Roundhill Memory exchange-traded fund launched in March. The ETF is up 123% since its launch.