Driven by the explosive demand for AI servers and high-capacity solid-state drives (SSDs), the NAND industry's quarterly revenue has reached a record high. Under the dual impact of limited capacity and traditional hard drive shortages, the soaring prices of enterprise products have boosted manufacturers' profits. Looking ahead, major suppliers are actively advancing high-capacity technologies, and the trend of undersupply and high prices is expected to persist in the long term.

Key Highlights

• Record Revenue: The AI server construction boom has sparked a surge in demand for high-capacity enterprise SSDs. Coupled with the structural shortage of traditional hard drives, this has pushed both the quarterly revenue and profits of the NAND industry to historic highs.
• Supplier Dynamics: Major manufacturers have seen significant profit growth, benefiting from increased server shipments and enhanced bargaining power. They are currently actively advancing cutting-edge processes and ultra-high-capacity solutions to target high-speed computing opportunities.
• Future Outlook: Due to extremely limited capacity expansion by suppliers, the robust demand from the server sector will offset the weakness in consumer electronics. The overall market condition of undersupply and high prices will continue in the long run.

Table of Contents

1. AI Boom Drives Storage Revolution; NAND Flash Industry’s Revenue Hit Record High in 1Q26 with 81.7% QoQ Growth
2. Analysis of Suppliers’ 1Q26 Revenue Performances and Outlooks
3. Summary and Technical Trends for 1Q26
   • 1Q26 Revenue Ranking among NAND Flash Suppliers

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