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SanDisk’s $16.5 Billion AI Backstop — Can The NAND Boom Keep Running?

SanDisk Corporation reported strong financial performance for the fourth quarter and fiscal year 2026, demonstrating significant growth driven primarily by the rapidly expanding demand for NAND memory products fueled by the rise of artificial intelligence (AI) and data-intensive workloads. The company’s strategic emphasis on deepening relationships with key customers through its New Business Models (NBMs) and advancing its proprietary technology portfolio, notably the BiCS 8 NAND and the Stargate QLC platform, contributed to record revenue, gross margin, and earnings per share. Revenue for the fourth quarter reached $8.97 billion, marking a 51% sequential increase and a 372% year-over-year rise, exceeding guidance expectations. This growth was attributed to both increased volumes (about one-third) and price enhancements (approximately two-thirds). For the full fiscal year, revenue reached $20.