SanDisk Shares Surge 650% on AI Infrastructure Demand

Shares of SanDisk Corporation have risen approximately 650% year-to-date in 2026, trading near $1,790. This growth is driven by the expansion of artificial intelligence data centers, which has repositioned NAND flash memory from a commodity storage medium into a critical component of AI infrastructure.

Financial results show a dramatic increase in data center revenue, which grew from $325 million in fiscal 2024 to $5.2 billion in fiscal 2026, contributing to total annual revenue of $20.2 billion. For the first quarter of fiscal 2027, the company provided revenue guidance between $10.3 billion and $10.8 billion. Long-term projections for fiscal 2028 through 2030 target adjusted gross margins near 80% and mid-to-high-teens revenue growth.

Rosenblatt Securities initiated coverage of the company on September 22, 2026, with a buy rating and a price target of $2,400 per share. The firm highlighted the BiCS8 and BiCS10 3D NAND flash memory platforms, developed in partnership with Kioxia, as providing a competitive edge in density and production efficiency.

To counter the historical cyclicality of the memory market, SanDisk Corporation entered into New Business Model agreements with eight customers. These contracts provide committed volumes and minimum financial guarantees through fiscal 2028, potentially covering 65% of production to increase demand visibility.