SanDisk stock exceeds $1,550 amid AI demand and Israel layoffs

SanDisk has experienced a massive financial recovery, with its stock price rising from the mid-$40s to over $1,550 following its spin-off from Western Digital. The company reported quarterly revenue of nearly $9 billion, a nearly fivefold increase compared to the same period last year, and a net income of $6.9 billion. This growth is largely attributed to the surge in demand for flash memory and storage solutions required to support Nvidia’s expanding AI infrastructure.

Despite this record growth and a $91 billion order backlog, SanDisk has implemented layoffs at its development centers in Israel, including locations in Kfar Saba, Tefen, and Omer. These cuts follow management’s decision to relocate a key development project from Israel to India. The layoffs affect staff involved in core flash memory technologies, such as chip design and storage systems, at centers that previously employed approximately 700 people.