Quant trading firm Jane Street sharply increased its stake in AI storage chip maker SanDisk (SNDK), according to a regulatory filing cited by BlockBeats on Aug. 25.
The filing showed Jane Street lifted its holdings to 7.41 million shares, valued at about $9 billion. That represented an increase of 6.25 million shares from its prior position, or roughly 540%.
After the increase, SanDisk became Jane Street’s second-largest single-stock holding, behind only SPY. The filing also showed Jane Street now owns about 5.47% of SanDisk’s float. Its position in the company is larger than its holdings in Amazon, Nvidia, and Microsoft.
SanDisk shares have gained more than 3,000% over the past 12 months, though the stock is still about 36% below its historical high. The shares have shown significant volatility.
Recent operating results have been supported by AI data center demand. SanDisk reported that fiscal 2026 revenue from its data center business rose 437% year over year to $5.15 billion. Data center shipments as a share of total volume increased from 12% a year earlier to 38%.
The company has signed long-term supply agreements with eight customers, including three U.S. hyperscale cloud service providers. It expects those contracts to generate at least $93.9 billion in total revenue, while remaining performance obligations stand at $91.1 billion.
SanDisk said AI inference demand is expected to keep driving growth in the NAND flash market. The company is also developing high-bandwidth flash, or HBF, products designed for AI inference workloads, and expects to provide samples to customers next year.
Jane Street has not disclosed a target price, but its more-than-500% increase in a single quarter has become a closely watched signal for the AI storage segment.