SanDisk reported explosive growth in its fiscal Q2 2026 earnings, far exceeding market expectations. Revenue reached $3.025 billion, surging 61% year-over-year. Profits saw even more dramatic growth, with GAAP net income soaring 672% to $803 million, and non-GAAP gross margin climbing to 51.1%.

This remarkable performance is fueled by the AI-driven surge in NAND Flash demand. With enterprise SSD prices rising sharply, SanDisk's data center sales jumped 76% year-over-year to $440 million. The company is strategically positioning itself for this demand by implementing a key customer-first strategy, securing long-term supply agreements, and extending its joint venture with Kioxia through 2034.

Looking ahead, SanDisk provided a bullish Q3 forecast, projecting revenue between $4.4 and $4.8 billion, which would represent over 109% sequential growth, with non-GAAP gross margins expected to reach 65%-67%. The company is maintaining disciplined capital expenditures, focusing on technology transitions and matching supply to high-value, sustainable demand.

ICgoodFind: SanDisk's phenomenal Q2 results highlight the powerful momentum in the NAND market driven by AI infrastructure buildout. Its focus on long-term agreements and strategic capacity planning positions it to capitalize on this sustained growth cycle, reshaping industry dynamics.