Sandisk 1,000% rally continues after Nvidia`s CEO storage comments

Sandisk Corp. (SNDK) stock surged Tuesday, posting their strongest daily gain since February, after comments from Nvidia Corp. (NVDA) Chief Executive Officer Jensen Huang underscored rising AI demand for memory and storage technology.

The stock climbed 28% following Huang’s remarks at the CES technology conference, where he emphasized the importance of storage in supporting artificial intelligence systems. The move extended an already sharp rally in the early days of 2026.

Sandisk has risen more than 47% over the first three trading sessions of the year. The shares have gained about 1,080% since reaching a low on April 22. On Tuesday, the company was the top-performing stock in the S&P 500 Index.

Other memory and storage makers also advanced. Western Digital Corp. and Seagate Technology Holdings Plc both recorded double-digit percentage gains, reflecting broader optimism across the sector.

Speaking at CES on Monday, Huang said the market for storage tied to artificial intelligence remains largely untapped. He described it as a new and potentially massive segment, expected to support the working memory needs of AI systems worldwide.

Tightening supply conditions and rising memory prices are helping lift digital storage stocks. Demand linked to AI training and inferencing continues to accelerate. Huang’s comments suggested that demand for NAND storage would stay strong across Nvidia’s systems.

Memory prices have been climbing steadily. Earlier this week, Korea Economic Daily reported that Samsung Electronics and SK Hynix are seeking to increase server DRAM prices by as much as 60% to 70% in the first quarter compared with the prior quarter.

Bank of America analysts described Sandisk and its peers as key beneficiaries of expanding AI inferencing and edge computing activity in 2026. In a Jan. 4 note, analyst Wamsi Mohan said organizations are retaining larger volumes of data for training, analytics, and compliance.

Mohan cited growing storage use in areas such as drones, surveillance systems, vehicles, and sports technology. He said the focus of AI investment is shifting beyond model training toward inference, driving a new phase of hardware spending.