Sandisk Stock Has Jumped Over 500% in 2026. It Can Still Become a Multibagger Thanks to This Massive News
Sandisk's long-term contracts with customers should ensure more upside for investors over the next couple of years.
Overview
Meta Platforms (NASDAQ: META) has been investing heavily in building artificial intelligence (AI) data centers to power its social media properties and advertising platforms, and it isn't relying solely on chips from external vendors to support its infrastructure build-out.
Reuters recently accessed an internal Meta memo revealing that the company is poised to begin producing a new AI chip starting in September. The Magnificent Seven company will use this chip to double its AI compute capacity to 14 gigawatts (GW) by next year. The news agency also noted that Meta has built an ecosystem of suppliers to support the development of its in-house chips, and Sandisk (NASDAQ: SNDK) is among them.
Details
Let's see why this high-flying memory stock could get a solid boost from Meta Platforms' in-house AI chip.
Source
Originally published at www.fool.com.