Rancho Cordova’s Solidigm becomes part of its company’s AI $10 billion venture
AI-generated summary reviewed by our newsroom.
- SK hynix will invest $10 billion to form a U.S. AI solutions company
- Solidigm is headquartered in Rancho Cordova with about 700 local staff
- Regional leaders must compete for operations and workforce incentives
The parent company of Solidigm — the Rancho Cordova-based memory storage company — plans to create a new AI solutions company in the U.S., and will invest $10 billion to do so.
Solidigm’s parent company, the South Korean chipmaker SK hynix, has not yet determined whether any of the new operations will be in the Sacramento area, the firm said in a statement Friday evening.
Solidigm was once Intel’s memory storage business, but was acquired by SK hynix in 2021 for $9 billion. Since then, Solidigm has set up its global headquarters in Rancho Cordova, where it employs nearly 700 people today in administrative roles and research and development.
Solidigm will become a subsidiary of the new AI solutions company, according to a news release.
‘Core asset of this AI company’
The company makes memory storage technology for data centers. Some of its newest drives are about the size of a deck of playing cards, with enough capacity to store every movie released in the 1990s.
Solidigm has manufacturing, design and regional offices across North America, and in Europe and Asia, with a global workforce of more than 1,800.
“When you look at what we’re doing as a company, we’ve got tremendous momentum that’s happening for us with storage and AI buildout,” said Dan Francisco, senior director of global communications for Solidigm. “We look to do more of that, being the core asset of this AI company.”
Region needs to compete
The company referred further questions to SK hynix.
Barry Broome, president and CEO of the Greater Sacramento Economic Council, said the region needs to compete for SK’s investment in part by meeting the company’s workforce needs.
“I’m sure they’re getting pitched endlessly,” Broome said, “with huge incentives by other states.”
This story was originally published February 2, 2026 at 5:00 AM.
