Storage vendor Solidigm is securing hardware for CoreWeave amid IPO rumors, validating CoreWeave's infrastructure expansion trajectory.

Solidigm has signed a multi-year contract with CoreWeave, an AI-native cloud provider, granting the company priority access to Solidigm's enterprise solid-state drive (SSD) capacity. The agreement is designed to help CoreWeave scale storage capacity alongside customer demand.

According to CoreWeave COO Sachin Jain, the deal enables the platform to streamline infrastructure for "AI pioneers." "This agreement gives us priority access to the storage our roadmap depends on, allowing customers to focus on what they're building instead of the infrastructure underneath it," Jain said.

Paul Palonsky, EVP and head of global sales at Solidigm, positioned the agreement as a strategic response to constrained memory provisions. "Long-term supply commitments are becoming a strategic advantage of staying ahead of demand, and this agreement aligns to that vision. It reflects the confidence Solidigm has in CoreWeave's growth and its position as a full-stack AI cloud provider."

The Solidigm deal follows CoreWeave's $335 million partnership with Backblaze for cloud storage capacity and a $1.17 billion provision with Vast Data, an AI operating system vendor. CoreWeave also operates its proprietary AI-specific Local Object Transport Accelerator (LOTA) storage solution.

In a recent interview, CoreWeave SVP for product management Corey Sanders characterized the company's offering as "a very specific AI solution focused on storage, caching, and throughput," which he argued hyperscalers cannot replicate.

Though Solidigm has not disclosed financial details of the CoreWeave contract, reports indicate the SSD vendor is preparing for an initial public offering valued at up to $7.1 billion. According to Korea Economic Daily, Solidigm is seeking to list on the Nasdaq alongside parent company SK Hynix, with Morgan Stanley and Goldman Sachs reportedly serving as lead managers. The proposed valuation stands at approximately $35.3 billion.

SK Hynix issued a regulatory filing denying the reports, stating: "Solidigm is reviewing various options to strengthen its competitiveness, but nothing has been confirmed to date." The denial failed to ease market concerns. Korea Joongang Daily reported that investors worry outside capital would dilute SK Hynix's indirect stake in Solidigm and diminish its overall corporate value.

SK Hynix's own stock has experienced volatility following its $26.5 billion U.S. IPO, with ongoing concerns about memory oversupply cycles even as current bottlenecks persist. Beyond a planned chip packaging facility in Indiana, Hynix is advancing its AI Company venture, which centers on a $10 billion investment in Solidigm.