SanDisk (NASDAQ: SNDK) shares climbed 8.60% to $933.98 in Wednesday's premarket trading, based on quotes taken at 9 a.m. Eastern. The flash memory and storage maker closed Tuesday at $859.99, down 2.99%, and the early rebound followed a steep selloff that included a 22.26% slump on November 5. Wednesday's advance coincided with a stronger capital spending outlook from AI cloud provider CoreWeave and broader gains across memory stocks.

CoreWeave Raises Capital Spending Outlook

CoreWeave reported third-quarter revenue of $3.661 billion on November 10, up from $1.365 billion a year earlier, according to its official results announcement. The company also raised its full-year 2026 sales outlook to $13 billion–$13.3 billion.

Capital spending guidance moved higher as well. CoreWeave now expects 2026 capital expenditures of $37 billion to $39 billion; its previous projected range started at $35 billion, while the upper limit remained unchanged. The outlook signals planned infrastructure investment despite recent concerns about slowing AI deployment. Capital-spending guidance from AI cloud operators is a figure memory-market observers track closely, since data-center buildouts draw on enterprise SSDs built on NAND flash—the product category SanDisk competes in.

Financing costs are climbing alongside the buildout. CoreWeave's net interest expense reached $846 million, compared with $310 million a year earlier, and the company forecasts fourth-quarter interest expense of $1.05 billion–$1.15 billion. Those figures illustrate the funding demands behind AI infrastructure expansion, and the fourth-quarter forecast gives a specific benchmark that can later be checked against CoreWeave's actual results.

Blockonomi reported a roughly 15% premarket increase in CoreWeave shares following the earnings announcement, along with a closer examination of the company's funding costs and rising interest expenses.

For SanDisk, two caveats apply. CoreWeave's announcement named Solidigm—not SanDisk—as the supplier under a newly disclosed multiyear agreement for priority enterprise SSD capacity. Its higher spending forecast likewise does not represent a confirmed purchase commitment to SanDisk.

SanDisk's Data-Center Sales Rise

SanDisk's October 29 earnings release provides a company-specific measure of demand, separate from Wednesday's broader stock rebound. Fiscal first-quarter 2027 revenue reached $11.03 billion, a 23% sequential increase, according to the company's official release. Data-center sales totaled $4.802 billion, rising 61% from the preceding quarter—figures that document SanDisk's data-center exposure directly and equal roughly 44% of the quarter's total revenue.

The company guided fiscal second-quarter revenue to a range of $12.2 billion to $12.6 billion, though that forecast remains management guidance rather than realized sales. At its $12.4 billion midpoint, the range implies about 12% sequential growth if realized. Earlier revenue growth also cannot establish that customer orders accelerated this week; no new SanDisk earnings announcement accompanied the early Wednesday move.

Stock Split Dates Approach

SanDisk's previously announced eight-for-one forward stock split is also approaching. Shareholders of record on November 9 are scheduled to receive seven additional shares per existing share, and the company plans to issue those shares after trading closes on November 19. Split-adjusted trading is expected to begin on November 20. Because the split multiplies the share count by eight, per-share quotes after that date will be on a different basis than this week's premarket prices and should not be compared to them one-for-one.

SanDisk said the split will not change its market capitalization or shareholders' proportional ownership. It should not be confused with fresh investment or a change in operating performance.

Wednesday's premarket prices may still shift once the regular session opens. Taken together, the disclosures on record—CoreWeave's raised spending outlook, SanDisk's earlier data-center results, and the approaching stock split—support a sector-wide sentiment rebound rather than a newly announced SanDisk supply contract.

Source: Blockonomi