markets

Matt Phillips1/6/26

Data storage stocks surge as Nvidia CEO calls the market “completely unserved”

Sandisk soared in early trading, leading the pack of data storage stocks that topped the market last year — including Western Digital, Micron, and Seagate Technology Holdings — sharply higher Tuesday.

Despite little news on Sandisk itself, its shares were trading at a furious rate. Shortly before 10 a.m. ET, roughly 4.1 million had changed hands, more than 3x as much as normal for that stage of the session.

Besides benefiting from a broad upswing in AI-related trades on Tuesday, memory chip and data storage makers have soared, alongside prices for their products, in an rally that started late last year.

Closely watched comments from Nvidia CEO Jensen Huang at the Consumer Electronics Show underscored the strong outlook for demand from the AI industry for data storage.

“This market will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs,” he told analysts at the trade show Monday, who called storage “a completely unserved market today.”

That demand seems set to continue to push prices up in early 2026, according to Morgan Stanley analysts.

In a note published Tuesday, tech hardware analysts at the bank wrote that prices for DRAM memory, which Micron makes, are expected to increase 40% to 70% quarter over quarter in Q1.

Similarly prices for NAND flash memory — a crucial form of memory for long-term storage and the heart of Sandisk’s products — are expected to increase 30% to 35% in Q1 2026, Morgan Stanley analysts said, citing industry estimates.

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CoreWeave jumps after expanding its AI compute sales deal with Meta to $21 billion

CoreWeave is popping in premarket trading after announcing it is boosting its deal to offer AI computing capacity to Meta.

The neocloud will now provide approximately $21 billion in AI compute to the social media giant through December 2032.

That increases the size of the agreement by about 50% and the length of the deal by a year when compared to the original pact the two sides inked back in September, which had included an option to expand this commitment — which has seemingly been exercised with today’s announcement.

CoreWeave recently closed a financing deal that management billed as the first of its kind, as it was backed by its chips and Meta’s AI compute purchase. This ability to effectively borrow Meta’s superior creditworthiness helped CoreWeave reduce its cost of debt.

Separately, CoreWeave also announced that it intends to issue $3 billion in senior convertible notes due in 2032 and $1.25 billion in senior notes due in 2031 in separate private offerings.

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J. Edward Moreno1h

STAAR Surgical soars after company reported preliminary sales that crushed expecations

STAAR Surgical rose more than 20% in premarket trading after it gave preliminary Q1 sales numbers that crushed Wall Street expectations, which it attributed to booming sales in China and the Americas.

The company, which sells eye implants, said in a press release published Wednesday that it expects to report revenue north of $90 million in the current quarter, compared to the $73 million analysts polled by FactSet are currently penciling in.

The company said sales in China "accounted for the majority of the increase in net sales, along with continued double-digit growth in the Americas." It also noted that sales in the Middle East "were negatively affected by significant geopolitical and macroeconomic challenges, resulting in a decline in sales in parts of those regions."

The stock is up nearly 21% as of 6:25 a.m. ET, having fallen more than 11% from the start of the year to yesterday’s close.

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Infleqtion targets revenue growth of 23% in 2026, up from 12% in 2025

Quantum computing firm Infleqtion said it’s aiming to book $40 million in sales this year as it released its 2025 results after the close on Wednesday.

That would be an increase of roughly 23% compared to the $32.5 million in revenues the company generated in 2025, and would mark an acceleration from growth of 12% last year.

The seller of quantum sensors and computers went public via a SPAC in February after carrying a pre-money valuation of $1.8 billion (well below other pure-play peers like Rigetti Computing, IonQ, and D-Wave Quantum).

“We did $29 million in revenue in 2024, and then we announced that we did $50 million of booked and awarded business in 2025. I think that sets a good foundation for significant revenue growth going forward,” CEO Matthew Kinsella told us in February. “I’ve always deeply believed that we need to develop that muscle of commercialization.”

Applied Digital Q3 results crush estimates

The AI data center operator just released its fiscal Q3 results.

INDONESIA-TECHNOLOGY-BUSINESS-ENVIRONMENT-AI

Tasha Matsumoto

Stocks climb and oil plunges on US-Iran ceasefire

Stocks continued their six-day winning streak, their longest of 2026, as investors returned to risk.

Cowboy Riding a Bull - stock illustration

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