NAND flash makers earned a record $46 billion in Q1 2026

Counterpoint Research's latest report puts Q1 2026 NAND flash revenues at $46 billion — roughly 3.5 times the level a year earlier. The surge has been driven largely by demand for enterprise‑grade SSDs destined for AI data centres. Enterprise SSDs now account for about 40% of the NAND market and are forecast to exceed 60% by year‑end.

With every PC, phone and tablet relying on SSDs for primary storage, that shift is already pushing prices higher, and memory makers are not expected to ramp up production until well into next year or later. Smaller manufacturers have picked up market share amid the boom: China's YMTC rose from 8% in Q1 2025 to 13%, now on par with SanDisk and Micron.

Combined Q1 2026 revenues are larger than what the industry earned across the whole of 2023. Consumer impacts are evident: a 1TB drive that cost $100 for nearly two years now sells for over $230, and some gaming SSDs and devices such as higher‑priced Steam Deck models have seen sharp price moves and rapid sell‑outs.

China

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