Shares of Sandisk (SYM: SNDK) are still taking off.
Fueling further potential upside, the NAND market could get even tighter thanks to the substantially growing appetite of artificial intelligence data centers that are just starting to consume a massive chunk of global memory and flash production capacity.
At the moment, NAND supply cannot keep up with demand.
Artificial intelligence will continue to create massive demand for data centers, which will lead to further demand for NAND, which is crucial for AI infrastructure.
Plus, consider this.
According to the MIT Technology Review, there are about 3,000 data centers across the U.S. Plus, according to a report from McKinsey, $5.2 trillion in AI infrastructure investments will be needed by 2030. Again, growing demand for data centers will mean growing demand for more NAND memory in an already tight market.
In addition, McKinsey’s analysis ‘suggests that demand for AI-ready data center capacity will rise at an average rate of 33 percent a year between 2023 and 2030 (reflecting a trend that is already underway.),’” according to analysts at McKinsey, as reported by BOMA International.
Given the requirements of AI data centers, demand for NAND will only rise, fueling even more upside for stocks, such as Sandisk.
We also have to consider that AI demand isn’t slowing, which increases the need for NAND.
With the global AI market already surpassing $230 billion in 2024, analysts now see a clear path to multi-trillion-dollar expansion—and the next five years may deliver the strongest gains yet.
Forecasts now place AI’s value between $1.7 and $3.5 trillion by the early 2030s, with the most aggressive estimates topping $7 trillion by 2035. And judging by the surge in corporate investment, the market is moving toward the high end of those projections.
In fact, some of the largest tech companies are sending a clear message that the AI boom is far from over. Just look at recent capex spending.
- Google raised its 2025 capex outlook to $91–$93B
- Microsoft is increasing spending 74% to $34.9B
- Meta nearly doubled capex to $19.37B, far above expectations
- Amazon projects $125B in 2025 capex, with more increases planned for 2026
For investors, these numbers are impossible to ignore. Even better, analysts at UBS now expects global AI capex to hit $571B in 2026, with a runway to $3 trillion by 2030.
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Written by Ian Cooper