AI Memory Chip Market Projected to Hit $476 Billion

The global artificial intelligence memory chip market is projected to reach $476 billion by 2030, fueled by tech companies expanding data center capacity and AI model capabilities. This surge in demand, coupled with a memory shortage, has generated significant financial gains for major industry suppliers.

Micron Technology reported a 345% increase in sales, reaching nearly $41.5 billion in its fiscal 2026 third quarter. The company's non-GAAP earnings rose over 1,300% to $24.67 per share. During the same period, Sandisk saw sales increase 97% to $5.9 billion, with non-GAAP earnings climbing 278% to $23.41 per share. Sandisk currently maintains a $42 billion backlog and $11 billion in financial guarantees from new contracts.

Financial analysts from firms including Bernstein, Cantor Fitzgerald, and Maestro have set aggressive price targets for both stocks. While the growth trajectory remains steep, some analysts caution that memory stocks are traditionally cyclical and may face future volatility.