Memory Startup ScaleFlux Plots IPO; Robots Descend on Citi HQ

A $26 billion U.S. stock offering by South Korean memory chip giant SK Hynix looks likely to benefit from colossal investor interest in the hardware companies powering the AI boom. At least one smaller tech manufacturer is angling to take advantage of the investor frenzy. 

ScaleFlux, a 12-year-old startup that designs memory controllers and storage drives used in AI data centers, wants to go public as soon as this fall, according to people familiar with the talks. It has picked banks including Goldman Sachs, Morgan Stanley and Barclays to advise on the offering. (Spokespeople for the banks declined to comment, and a ScaleFlux representative couldn’t be reached for comment.)