According to the latest NAND Flash industry research from TrendForce, procurement demand for AI servers remained robust in the second quarter of 2026, with particularly strong demand for Enterprise SSDs. This has created a supply shortage across the overall NAND Flash market, allowing manufacturers to leverage pricing power to significantly increase Average Selling Prices (ASP). As a result, among listed NAND Flash brands, the top five manufacturers saw combined quarterly revenue grow by 77%, reaching USD 68.87 billion.

Looking ahead to third-quarter revenue prospects, although smartphone and PC end-devices face weaker momentum due to rising Bill of Materials (BOM) costs pushing up device prices, the sustained strong demand for Enterprise SSDs from AI servers, coupled with manufacturers generally prioritizing capital expenditure on DRAM/HBM, means new NAND Flash capacity is limited. It is estimated that ASP will continue to support overall industry revenue growth in the third quarter.

Where the Growth Came From

An analysis of the top five NAND Flash brands' revenue performance in the second quarter reveals distinct trends. Samsung benefited from AI server demand driving up NAND Flash product ASP, while its Enterprise SSD shipment share continued to rise, significantly improving profitability. The company's quarterly revenue grew to approximately USD 23.06 billion, up 70.7% quarter-on-quarter. However, as competitors grew revenue faster, Samsung's market share saw a slight decline to 29.3% in the second quarter.

SK hynix Group (including SK hynix and Solidigm) secured the second-highest revenue position. Benefiting from the continued ramp-up of its 321-layer process and strong orders for Solidigm's high-capacity QLC Enterprise SSDs, rising ASP drove its NAND Flash revenue up 89.5% quarter-on-quarter, breaking through USD 14.27 billion. The group's operating profit margin also reached a new record high.

Micron similarly experienced significant ASP growth, with NAND Flash revenue reaching USD 11.85 billion, a quarter-on-quarter increase of 99.2%—the highest among the top five brands. This performance moved Micron up to the third position in the rankings.

Kioxia secured the fourth position in revenue. Benefiting from persistently high NAND Flash prices and the continued volume ramp-up of BiCS8 production, both revenue and profitability rose. Revenue increased by 79.9% quarter-on-quarter to approximately USD 10.72 billion, though its market share declined slightly to 13.6%.

SanDisk saw its ASP also boosted by AI demand in the second quarter. However, due to relatively conservative bit shipment momentum, its quarterly revenue growth was 50.7%, reaching nearly USD 8.97 billion. Overall, SanDisk's growth pace lagged behind its peers in the industry.