Sandisk reported year-over-year revenue growth of 174% in the fourth quarter, with total sales exceeding $6.3 billion as hyperscale cloud operators and AI startups ramped up capacity. The company shipped over 120 Exabytes of NAND flash products last quarter, up from 45 Exabytes a year earlier, reflecting strong take-rates on its higher-density 3D flash lines. Management guided first-quarter revenues to climb at least 60% sequentially, citing multi-year supply agreements signed with two of the world’s largest data center operators and a backlog of orders representing nearly 10% of annual production capacity.

Sandisk’s transition to its eighth-generation BiCS8 node has unlocked a 30% improvement in die capacity and a 20% reduction in manufacturing cost per bit versus its prior node. The company also unveiled a proprietary high-bandwidth flash (HBF) platform in collaboration with SK Hynix, targeting deployment alongside leading GPU makers for AI inference workloads. Early customer trials report sustained throughput gains of up to 2.5× on large-language-model deployments. Sandisk expects BiCS8 volume ramps to contribute over $1 billion in incremental annual revenue by year-end, with HBF licensing deals slated to begin later this quarter.

Since spinning out in February 2025, Sandisk shares have outperformed the broader memory sector by more than 600%, hitting a fresh 52-week high last week. Institutions have added roughly 15 million new shares to their holdings over the past three months, driving average daily trading volume up 220% versus the prior year. Analysts highlight a breakeven point in NAND pricing that Sandisk can capitalize on as industry supply tightens—contract prices for enterprise-class flash are expected to rise at least 35% quarter-to-quarter in the upcoming period. With a market capitalization north of $50 billion, Sandisk sits among the top three pure-play flash memory firms globally, positioning it to capture the lion’s share of AI-driven storage demand.