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Why Sandisk Stock Popped Again Today
**Sandisk **(SNDK +9.25%) stock jumped 6.4% through 10:30 a.m. ET Thursday after Reuters reported the NAND memory maker has signed a "multi-year" deal to supply NAND flash memory to Meta Platforms (META +0.26%).
Meta stock itself is down slightly on the news.
Image source: Getty Images.
Details, please
Sandisk isn't the only beneficiary of the deal, with Meta reported to be splashing out cash on DRAM from Samsung and fiber optic cables from Sumitomo Electric as well, as it builds out its own artificial intelligence computing infrastructure. But as the only company of the three trading on the Nasdaq, it's the most obvious beneficiary -- and so it's the one investors are buying today.
Additional beneficiaries probably include Broadcom (AVGO +2.95%), which is helping Meta to design the Iris AI chips it will use in its data warehouses, and also Taiwan Semiconductor Manufacturing (TSM +1.62%), which will contract-manufacture the chips.
Note that all of these companies are currently keeping mum, with none of them officially confirming the details of the Reuters report -- but adding credence to the report, Broadcom and TSMC stocks are both up as well.
Expand
NASDAQ: SNDK
Sandisk
Today's Change
(9.25%) $159.79
Current Price
$1,886.97
Key Data Points
Market Cap
$256BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.Market cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Day's Range
$1801.00 - $1894.23
52wk Range
$40.10 - $2354.39
Volume
182.3K
Avg Vol
13.5M
Gross Margin
56.04%
What this means for Sandisk stock
Lacking official confirmation and details on the amount of money involved in this rumored contract, it's hard to say precisely how big a deal this is for Sandisk in particular -- but it could be significant. Meta is reportedly planning to spend as much as $145 billion on AI infrastructure this year -- _more _than the $136.6 billion it's expected to bring in via cash from operations, according to data from S&P Global Market Intelligence.
It makes sense that with so much AI cash sloshing in its direction, Sandisk stock would be making a very big move today -- and it is.