NAND revenue jumps as AI server SSD demand keeps supply tight

The NAND market is showing a sharp AI-driven rebound. TrendForce's latest survey, as reported by TechPowerUp, puts combined first-quarter revenue for the five largest NAND Flash suppliers above US$38.9 billion, up 83.7% from the prior quarter. The main demand driver was enterprise SSD purchasing by cloud service providers building AI server infrastructure. The report also points to a storage substitution effect: persistent hard-drive shortages are pushing more orders toward QLC enterprise SSDs. That mix of server demand, constrained supply, and higher NAND average selling prices is expected to continue into 2Q26. Weakness in smartphone and PC demand remains a counterweight, but server orders appear strong enough to keep NAND pricing elevated for now.