TrendForce's latest NAND Flash industry research reveals that AI server demand remained steady in the second quarter of 2026—particularly for enterprise SSDs—resulting in a supply shortage across the NAND Flash market. This allowed suppliers to raise ASPs significantly through contract negotiations. As a result, the combined revenue of the top five publicly listed NAND Flash brands rose 77% QoQ to US$68.87 billion.

Looking ahead to the third quarter, demand from smartphones and PCs is expected to remain weak as higher BOM costs push up device prices. However, demand from AI servers for enterprise SSDs remains strong. Meanwhile, suppliers are generally prioritizing capital expenditure on DRAM and HBM, limiting new NAND Flash capacity. ASPs are therefore expected to continue supporting overall industry revenue growth in the third quarter.

Among the top five NAND Flash brands, market leader Samsung benefited from higher NAND Flash ASPs driven by AI server demand, while a growing share of enterprise SSD shipments significantly improved profitability. Revenue rose 70.7% QoQ to nearly $23.06 billion. However, as competitors posted faster revenue growth, Samsung's market share edged down to 29.3% in the second quarter.

SK hynix Group, including SK hynix and Solidigm, ranked second. Continued ramp-up of its 321-layer process, strong orders for Solidigm's high-capacity QLC enterprise SSDs, and rising ASPs lifted NAND Flash revenue 89.5% QoQ to more than $14.27 billion. Its operating margin also reached another record high.

Micron likewise benefited from a significant increase in ASPs, with NAND Flash revenue reaching $11.85 billion, up 99.2% QoQ—the highest growth rate among the top five brands. This lifted Micron to third place.

Kioxia ranked fourth. Revenue and profitability increased, supported by persistently high NAND Flash prices and continued growth in BiCS8 output. Revenue rose 79.9% QoQ to approximately $10.72 billion, while market share edged down to 13.6%.

Sandisk also benefited from AI-driven ASP increases in the second quarter. However, relatively conservative bit shipment growth limited its revenue increase to 50.7% QoQ, reaching nearly $8.97 billion and trailing the growth of its peers.