NAND Flash Revenue Jumps 77% as AI Server Demand Tightens Supply

The combined revenue of the five largest publicly listed NAND Flash brands rose 77% quarter over quarter to US$68.87 billion in the second quarter of 2026, according to research from TrendForce cited by TechPowerUp.

The increase was driven by sustained demand from AI servers, in particular for enterprise SSDs, which contributed to a supply shortage across the NAND Flash market. That tightness allowed suppliers to raise average selling prices considerably through contract negotiations. Micron moved up to third place among the ranked brands.

For the third quarter, TrendForce expects demand from smartphones and PCs to stay weak, as higher bill-of-materials costs push up device prices. Demand from AI servers for enterprise SSDs is projected to remain strong. Suppliers are largely directing capital expenditure toward DRAM and HBM, which limits new NAND Flash capacity. As a result, average selling prices are expected to keep supporting overall industry revenue growth into the third quarter.