Surging requirements for AI data centers have dramatically increased orders for DRAM and NAND storage, creating a bottleneck in global supply. As enterprises race to process and store vast machine-learning datasets, demand across the memory industry has reached multi-year highs.

Only three major suppliers—Samsung, Micron and SK Hynix—dominate the market for advanced memory modules, enabling them to impose price hikes. These increases have strained inventories and pushed back shipments of memory-heavy devices such as Mac Minis and Mac Studios.

Sandisk shares have outperformed peers in the recent rally, reflecting investor confidence in enduring pricing power amid tight NAND supplies. Market participants remain cautious, however, as the memory cycle has historically oscillated between boom and bust phases.