SanDisk Jumps 8.8% on Meta Multi-Year Flash Storage Contract
SNDK•SNDK•SNDK•SNDK•Meta’s leaked internal memo confirms a multi-year flash storage supply agreement with SanDisk, underpinning anticipated data-center demand through 2029. The announcement spurred SanDisk’s shares to rally nearly 9%, signaling investor confidence in sustained revenue growth.
An internal memo from Meta dated July 8 confirms a multi-year agreement for SanDisk to supply enterprise-grade flash storage modules to support the social network’s expanding data-center infrastructure through 2029.
Following the memo’s circulation on July 9, SanDisk shares surged 8.8%, marking the largest one-day gain in over six months on heavy trading volume as investors anticipated a boost to the company’s enterprise revenue.
The deal strengthens SanDisk’s position in the data-center storage market and could add several hundred million dollars in annual revenue; analysts may revise earnings forecasts to reflect sustained demand from hyperscale cloud providers.
