SanDisk Corp. (SNDK)

[VortMax]

Do your own DD, but

Research: AI is moving to inference (use) from building models (storage). Flash memory is used in inference. Inference compounds on each use as the flash has to incorporate the previous use. The biggest market for memory was storage the last 10 years, its now going to be inference, forever. Sandisk created flash memory. They are the gold standard. Flash memory is called the "heartbeat" of AI. Due to extreme use the product/wafers have to be replaced every 3 years or so. Flash is about 15% of the cost to build AI servers. There will be $3T in servers by 2030.. This will cost $450B in NVMe-based chips like Sandisk dominates that will be sold next 4 years. Sandisk has 30% of the world capacity to build them, and is the gold standard of what they want. Sandisk is increasing is capacity right now by 60%, at virtually no cost because its not building new factories, its upgrading existing, all in filings. Sandisk will be at about 50% of global AI NVMe-based supply for AI. The AI market will need $150B per year of these chips ongoing, assuming no increase in datacenter capacity (which we know it will increase). Due to replacement cycle and high premium for their products, should do $100B per year in sales for AI, at 80% margins, and stay that way, as the backbone of AI. Approaching current day pubcos:

Alphabet Inc. (GOOGL): Ranked as one of the most profitable companies, generating over $100 billion to $124 billion in net http://income.Apple Inc. (AAPL): Consistently generates over $90 billion to over $110 billion in net income http://annually.Microsoft Corporation (MSFT): Reported net income exceeding $100 billion in FY2025/2026, driven by cloud and AI growth.Saudi Aramco (ARMCO): Frequently cited as the world's most profitable company. As of April 2024, it reported roughly $120.7 billion in net profit, though profits can fluctuate based on oil prices.NVIDIA Corporation (NVDA): Experienced explosive growth, with net income exceeding $80 billion, and projected to increase to over $100 billion.