SanDisk shares experienced a dramatic surge on Tuesday, jumping as much as 25 per cent and reaching a record high. This intraday performance marked the stock’s best since February, fuelled by comments from Nvidia CEO Jensen Huang at the CES technology conference. Huang emphasised the crucial role of memory and storage in the current tech landscape.
The stock’s impressive run continues, with an increase of over 40 per cent in the first three trading sessions of 2026. Since hitting a low point on April 22, the stock has soared roughly 1050 per cent. SanDisk is now the top performer in the S&P 500 Index. The company specialises in flash memory storage solutions, providing products like SD cards and solid-state drives.
Other memory and storage companies also benefited from the positive sentiment. Western Digital and Seagate Technology both recorded double-digit percentage gains, reflecting the market’s optimism about the sector’s prospects. Huang’s comments highlighted a potentially massive opportunity in the AI-driven storage market.
“For storage, that is a completely unserved market today,” Huang stated at CES on Monday. He further elaborated, “This is a market that never existed, and this market will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs.” These remarks underscore the anticipated growth and significance of the memory and storage market within the expanding field of artificial intelligence.
