SanDisk stock hit an all-time high of $2,354.39 on June 21, 2026, as surging demand from artificial intelligence data centers propelled the memory chip maker to the top of the S&P 500’s performance leaderboard for the year.
The rally reflects explosive growth in the company’s data center business, which has become the core driver of SanDisk’s earnings expansion. In the company’s fiscal second quarter ended December 2025, data-center revenue surged 64% sequentially to $440 million, fueled by strong adoption among AI infrastructure builders and cloud providers, according to SanDisk’s official earnings release on January 29, 2026.
That momentum intensified in the third quarter. SanDisk reported Q3 fiscal 2026 revenue of $5.95 billion, up 251% year-over-year, with its data-center segment alone growing 645% year-over-year, according to 24/7 Wall St. The company’s total Q2 revenue of $3.03 billion had already beaten analyst expectations of $2.69 billion by 13%, and the company raised guidance for Q3 to between $4.4 billion and $4.8 billion.
SanDisk’s ascent mirrors a broader surge in memory chip stocks driven by AI infrastructure spending. Micron Technology rose 154% year-to-date as of mid-May 2026, while South Korean chipmaker SK Hynix climbed more than 250% in 2026 alone, according to reports from May 26-31, 2026. Both firms have benefited from the same tailwind: global tech companies racing to build out AI data centers and competing fiercely for limited supplies of high-bandwidth memory and storage chips.
SanDisk’s competitive advantage has been reinforced by multi-year supply agreements signed with major AI infrastructure builders. The Motley Fool reported on May 18, 2026, that SanDisk had signed three such deals in the third quarter and two more in the fourth quarter as of April 30, 2026, locking in revenue streams as demand outpaces supply.
The stock’s ascent was also turbocharged when SanDisk was added to the S&P 500 in November 2025, triggering automatic buying from index funds and passive investors. The company had been spun off from Western Digital in February 2025, and its share price has gained roughly 500% in 2026 year-to-date, making it one of the market’s most explosive performers amid the AI infrastructure boom.
Sources
- SanDisk Investor Relations — Fiscal Q2 2026 earnings release confirming 64% sequential data-center revenue growth driven by AI infrastructure builders
- CNBC — Reported 64% growth in SanDisk’s data center business following blowout Q2 earnings on January 30, 2026
- 24/7 Wall St. — Reported Q3 FY26 revenue of $5.95 billion, up 251% YoY, with data center segment growing 645% YoY
- Yahoo Finance — Reported SanDisk stock up nearly 500% in 2026 as of May 6, 2026, driven by strong Q3 results and AI momentum
- The Motley Fool — Reported on May 18, 2026, that SanDisk signed multi-year supply agreements with AI infrastructure providers in Q3 and Q4
- TradingView — Confirmed SNDK reached all-time high of $2,354.39 on June 21, 2026
- Morningstar — Reported on May 13, 2026, that SanDisk has risen 464.5% in 2026 as a leading flash memory provider
