Sandisk reported soaring fourth-quarter revenue as the AI buildout continues to fuel data storage demand.

The company posted net income of $6.9 billion, or $43.97 a share, compared with a loss of $23 million, or 16 cents a share, the year prior.

Adjusted earnings were $39.25 a share. Analysts polled by FactSet expected $34.96 a share.

Revenue jumped to $8.97 billion from $1.9 billion. Wall Street expected $8.48 billion.

The company guided for first-quarter adjusted earnings of $44 to $46 a share and revenue of $10.3 billion to $10.8 billion. Analysts see first-quarter adjusted earnings of $44.72 a share and revenue of $10.82 billion.

Sandisk has seen surging revenue and profit as data storage has become a key bottleneck in the AI infrastructure buildout. Capacity has remained constrained, leading to higher prices for customers across a range of industries and boosting the bottom line of producers.