Jane Street Bets Big on SanDisk: Holdings Surge 540%, Jumping to Become Its Second-Largest Single Stock Position

According to regulatory filings, quantitative trading giant Jane Street has significantly increased its holdings in AI storage chip manufacturer SanDisk (SNDK), raising its stake to 7.41 million shares with a position value of approximately $9 billion. This represents an increase of 6.25 million shares from its prior holding, a rise of around 540%, making SanDisk Jane Street’s second-largest single-stock position, second only to SPY. The filings show Jane Street currently holds roughly 5.47% of SanDisk’s outstanding shares, a position size even larger than its holdings in Amazon, NVIDIA, and Microsoft. SanDisk’s stock has surged over 3,000% in the past 12 months, though it remains about 36% below its all-time high with notable price volatility. SanDisk’s recent performance has been driven by demand from AI data centers. For its 2026 fiscal year, the company’s data center business revenue jumped 437% year-over-year to $5.15 billion, while data center shipments as a share of total output rose from 12% a year earlier to 38%. The company has now signed long-term supply agreements with 8 clients, including 3 U.S. hyperscale cloud service providers, with total contracted revenue projected at no less than $93.9 billion and remaining performance obligations standing at $91.1 billion. SanDisk expects AI inference demand to continue driving growth in the NAND flash market, and is developing high-bandwidth flash (HBF) products tailored for AI inference workloads, with plans to deliver samples to clients next year. While Jane Street has not publicly disclosed a target price, its move to boost its stake by over 500% in a single quarter has become a key signal for the market to focus on the AI storage sector.