30亿美元空头惨遭“血洗”！AI狂潮下存储芯片Sandisk(SNDK.US)轧空风暴进入极端区间

Core Viewpoint - The stock of Sandisk (SNDK.US) has seen a significant rise, leading to an extreme short squeeze risk as short positions have increased substantially over the past months [1][3]. Group 1: Stock Performance and Short Positions - Sandisk's stock price has surged by 112% this year, significantly outperforming the S&P 500 index, which has only risen by about 1% [3]. - Since its relisting, Sandisk's stock has appreciated approximately 1300% [3]. - The short interest in Sandisk has risen from about 4% to 7.5% of the float since early November last year, with short positions incurring losses of around $3 billion [1]. Group 2: Industry Trends and AI Impact - The storage chip sector is experiencing a "super cycle" driven by the AI data center construction boom, which is altering the cyclical nature of the storage chip industry [4][7]. - Demand for storage capacity and bandwidth from AI servers is significantly higher than that of traditional servers, leading to price increases across the industry [4]. - Major companies like Micron Technology and SK Hynix are investing heavily in expanding production capacity, with Micron announcing a $100 billion investment in a new manufacturing facility [5][7]. Group 3: Price Projections and Market Sentiment - Analysts from Morgan Stanley, Nomura, and Bank of America predict a robust "storage chip super cycle" that may last longer and be more intense than the previous cycle driven by cloud computing [7]. - Nomura's report indicates that the demand for high-performance DRAM and HBM storage systems is expected to surge, leading to steep price increases for DRAM and NAND chips [7]. - Citigroup analysts have raised their price forecasts for DRAM and NAND chips for 2026, expecting an 88% increase in DRAM average selling prices and a 74% increase in NAND prices [8].