Asia Tech Wire (July 26) -- SK hynix is seeking to list its U.S. eSSD manufacturing subsidiary Solidigm in the U.S., according to The Korea Economic Daily.

The Korean media reported Thursday that SK hynix has decided to push ahead with the listing of Solidigm on the New York Stock Exchange, in order to expand its production facilities in line with the "semiconductor super cycle" that returned after six years.

According to another report, Solidigm has recently gained a leading position in the market for high-capacity eSSDs for AI servers, which are experiencing shortages.

SK hynix's parent company, SK Group, believes that the demand for eSSDs will increase dramatically in the AI era, so it plans to list Solidigm in the U.S. to secure investment capital.

Considering the price at which SK hynix acquired Solidigm four years ago (about 10 trillion won) and the market capitalization of NAND flash rivals such as Western Digital (about 32 trillion won), observers put Solidigm's current enterprise value at about 20 trillion to 30 trillion won.

SK hynix on Wednesday reported its revenue for the second quarter of 2024 at a record high of 16.4233 trillion won, up 125% year-on-year.

The South Korean chipmaker realized an operating profit of 5.4685 trillion won in the quarter, marking its return to the 5 trillion won level in that metric after the third quarter of 2018.