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Sandisk is the pure-play NAND flash company that Western Digital spun off in February 2025 — it makes the 3D NAND memory chips, SSDs and memory cards inside phones, laptops, cameras and, increasingly, AI data-centre storage. It does not own its own leading-edge fabs: it co-develops and co-manufactures every wafer in a decades-old joint venture with Japan's Kioxia, and competes head-on with Samsung, SK hynix and Micron for the NAND market.

A memory maker with no fab of its own

Sandisk designs NAND flash and the SSDs around it, but it builds none of the wafers itself — every chip comes out of fabs it co-owns with Kioxia in Japan. That makes the Kioxia joint venture the single most important relationship in the whole chain.

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