SanDisk shares jump 5,400% on AI‑driven flash memory demand

SanDisk's stock price rose from about $42 to $2,273 per share in a single year, a gain of roughly 5,400 %. The surge is attributed to a massive surge in demand for NAND flash memory used in artificial‑intelligence data centers. The company has responded by locking in long‑term contracts to stabilize supply and pricing. In its latest quarter, SanDisk reported nearly $1 billion in free cash flow and revenue of $5.95 billion, up 97 % year‑over‑year, with earnings of $2.99 per share beating analyst expectations. Analysts note that while the flash‑memory market historically cycles between boom and bust, SanDisk’s management believes current AI‑driven demand will sustain higher prices longer than in past cycles.