SanDisk shares surge over 700% in 2026 amid AI-driven demand

SanDisk’s stock has climbed more than 720% during 2026, extending a year‑to‑date rise of roughly 770% that makes it the top performer in the Nasdaq‑100. The rally is tied to booming artificial‑intelligence workloads that require high‑speed storage, fueling a surge in data‑center sales. The company introduced the world’s first 256 TB enterprise SSD for AI data lakes, and its data‑center revenue grew 645% year over year. Revenue for the fiscal third quarter reached $5.95 billion, up 251%, and net income turned positive at $3.6 billion after a loss a year earlier. CEO David Goeckeler said, “This quarter marks a fundamental inflection point for SanDisk – where our technology leadership is enabling a deliberate shift in our mix toward the highest‑value end markets, led by Datacenter.” Nonetheless, prediction‑market platform Polymarket labeled the stock “the most overbought stock in history,” warning of a potential correction.