AI Demand Fuels Memory and Storage Stock Surge

That’s according to a Sunday (Jan.25) report from the Financial Times (FT). The report notes that data storage companies, once considered a less glamorous part of the IT hardware space, have seen their stocks jump in recent months. This growth is driven by projections that artificial intelligence (AI) build-out will surpass $500 billion this year.

Shares in SanDisk have doubled since the beginning of the year and are up nearly 1,100% since August. Micron and Western Digital have tripled during the same period, as has Korean chipmaker SK Hynix.