January 13, 2026 /SemiMedia/ — SanDisk plans to sharply raise prices for enterprise-grade NAND flash used in solid-state drives in the first quarter of 2026, with quarter-on-quarter increases expected to exceed 100%, according to a research note from Nomura Securities.

Nomura said channel checks show multiple memory suppliers have already lifted prices, with enterprise NAND recording the most aggressive increases. SanDisk’s planned adjustments are expected to be passed through to enterprise SSD pricing, reinforcing the current upcycle in the storage market.

Supply chain sources cited by the brokerage said SanDisk is also asking some customers to make full upfront payments to secure supply for one to three years, underscoring tight availability of enterprise-grade NAND. Several cloud service providers are assessing the terms to reduce the risk of supply disruptions as AI infrastructure spending accelerates.

Nomura attributed the price hikes to surging demand for AI servers and data centres, which is driving rapid growth in server-class storage consumption. At the same time, memory makers are allocating advanced manufacturing capacity to high-bandwidth memory products, limiting effective supply growth for 3D NAND.

While global NAND capacity remains sufficient in aggregate, structural imbalances are shifting pricing power back to suppliers. Nomura expects elevated pricing to persist through 2027, with limited scope for near-term capacity expansion.