Key points
- CoreWeave (CRWV) signed a multi-year deal with Solidigm for priority access to enterprise SSDs. No dollar value, no term length, no capacity figure.
- Solidigm is the US storage arm of SK Hynix (SKHY). Together they did $4.64B of enterprise SSD revenue in Q1, second to Samsung's $7.05B.
- Enterprise SSD contract prices rose about 80% in Q1. TrendForce forecasts NAND contract prices up 10-15% in Q3.
- CRWV was up 0.2% Wednesday morning. SanDisk (SNDK) was down 2.5% and reports after the close.
CoreWeave (CRWV) said Wednesday it entered into a multi-year deal with Solidigm, the US storage division of SK Hynix (SKHY), giving CoreWeave preferential access to enterprise solid-state drive capacity. Terms, dollar value and capacity details were not disclosed.
In April, CoreWeave announced an extended deal to supply AI cloud capacity to Meta (META) through December 2032 at a cost of approximately $21 billion. In its first-quarter earnings release, the company reported a revenue backlog of $99.4 billion as of March 31 and total contracted power of more than 3.5 gigawatts, against $2.08 billion of revenue in the quarter and a $740 million net loss.
The deal with Solidigm provides CoreWeave "priority access to the storage our roadmap depends on," said CoreWeave's chief operating officer Sachin Jain, "allowing customers to focus on what they're building instead of the infrastructure underneath it."
The release identified storage as a major bottleneck in capacity planning, and said CoreWeave established the direct agreement to obtain priority allocation "as enterprise AI adoption accelerates and industry-wide storage supply tightens."
Why enterprise SSDs are tight
According to TrendForce, enterprise SSD contract prices increased about 80% in the first quarter of 2026, a quarter it described as "an exceptionally severe supply-demand imbalance," with supplier inventories at historic lows and production volume lagging significantly behind order growth. Combined revenue for the leading five enterprise SSD brands achieved a record $18.46 billion, up 86.1% quarter over quarter.
| Brand | 1Q26 enterprise SSD revenue | Share of top five |
|---|---|---|
| Samsung Electronics | $7.05B | 38% |
| SK Hynix (SKHY) with Solidigm | $4.64B | 25% |
| Micron (MU) | $3.09B | 17% |
| Kioxia | $2.22B | 12% |
| SanDisk (SNDK) | $1.47B | 8% |
Share of the top five is based on revenue figures from TrendForce.
TrendForce forecasts that NAND flash contract prices will be up 10-15% quarter over quarter in the third quarter, with traditional DRAM up 13-18%. It also said short supply of internally sourced DRAM has kept supplies of small-capacity, high-performance enterprise SSDs limited. Memory shares, however, have been hit hard through that entire period of rising prices.
Solidigm is based in Rancho Cordova, California and is a separate subsidiary of SK Hynix Inc. It is what SK Hynix built out of the NAND flash and SSD business of Intel (INTC), which it agreed to buy in October 2020 for $9 billion and completed the acquisition of in March 2025. SK Hynix's American depositary shares started trading on the Nasdaq on July 13, so the US line is three weeks old.
SK Hynix is signing multi-year supply contracts across the rest of its memory division. During the second-quarter earnings call on July 29, president Song Hyun-jong said the company had already finished long-term contract negotiations with over ten customers and still had more ongoing. Those contracts run three to five years, with five as the base structure.
CoreWeave was trading 0.2% higher at $92.06 at 10:48 a.m. Eastern Wednesday than the previous close of $91.90 on Tuesday. The Nasdaq shares of SK Hynix were trading 1.4% lower at $152.26, while Micron was up 2.1% and Nvidia (NVDA) was up 3.8%.
SanDisk was down 2.5% at $1,391.97 and is set to report its fiscal fourth-quarter results after Wednesday's close.
CoreWeave reports its second-quarter results August 11.
"Long-term supply commitments are becoming a strategic advantage of staying ahead of demand, and this agreement aligns to that vision," added Solidigm's executive vice president and head of global sales Paul Palonsky.
Sources
- CoreWeave and Solidigm announcement, August 5, 2026, for the agreement, the Sachin Jain and Paul Palonsky quotes, and Solidigm's ownership and headquarters
- CoreWeave first-quarter 2026 earnings release, filed May 7, 2026, for the $99.4 billion revenue backlog, 3.5 gigawatts of contracted power, $2.08 billion of revenue and the $740 million net loss
- CoreWeave Form 8-K exhibit filed April 9, 2026, for the $21 billion Meta agreement running through December 2032
- TrendForce, June 11, 2026, for 1Q26 enterprise SSD revenue by brand, the 86.1% quarterly increase and the about 80% contract price rise
- TrendForce, July 3, 2026, for the 3Q26 NAND and DRAM contract price forecasts
- Price data via Robinhood as of 10:48 a.m. Eastern, August 5, 2026
