SanDisk Reports Record $8.97 Billion Quarterly Revenue Driven by AI

SanDisk Corporation reported record financial results for its fourth fiscal 2026 quarter ending July 3, achieving quarterly revenues of $8.97 billion. This represents a 372% year-over-year increase and includes a GAAP net income of $6.9 billion. For the full fiscal year 2026, the company generated $20.25 billion in revenue and $11.4 billion in net income, marking a significant recovery from a $1.6 billion loss in fiscal 2025.

The growth was primarily propelled by the data center segment, where revenue surged 1,298% year-over-year to $2.98 billion. CEO David Goeckeler attributed the performance to the "era of inference," stating that artificial intelligence is reshaping the demand equation for NAND storage. To stabilize future earnings, the company secured long-term agreements with eight customers, including major hyperscalers, guaranteeing $93.9 billion in minimum contracted revenue.

Despite the record results, the company's stock remains approximately 50% below its all-time high. Market analysts attribute this gap to investor concerns regarding the cyclical nature of the memory chip market and the eventual normalization of current demand levels.