DNB Asset Management AS acquired 842,604 shares of SanDisk Corporation. The transaction is valued at approximately $94.54 million. This purchase establishes a 0.57% ownership position for the institutional investor.
The investment follows a new partnership between SanDisk and SK hynix. The two companies aim to establish a global standard for high-bandwidth flash memory tailored for artificial intelligence applications.
SanDisk is currently shifting its strategy toward long-term supply agreements with data center customers. This pivot intends to capture increasing demand for NAND flash storage driven by AI infrastructure.