Key insights
- The author questions the delayed surge in Micron (MU) and SanDisk (SNDK) stock prices relative to Nvidia (NVDA) despite the AI-driven datacenter boom. The rise in MU and SNDK only began in August 2025, while NVDA's surge occurred much earlier. This suggests a delayed impact of datacenter memory demand or other factors influencing memory prices and shortages that only materialized later, positively affecting MU and SNDK.
I have read that it has to do with "datacenter memory usage" and rising NAND memory prices and shortages due to huge demand.
But the AI/datacenter 'boom' began in earnest in 2023-2024 with the rise of hat GPR, Claude , and Gemini. NVDA stock surged from $10 to $160 in this period, yet MU and SNDK did nothing. In fact, MU and SNDK remained flat as NVDA was surging, only to start surging at the same time NVDA has stayed flat around $160-200 for the past 9 months.
So this doesn't make sense. Obviously there would have been huge demand for memory from 2023-2024, yet MU and SNDK did nothing. What changed around August 2025 to make SNDK and MU go up so much? It's not as is memory was a concern pre-August 2025?