Meta Platforms Secures Multi-Year Deal with Sandisk
Meta Platforms (NASDAQ: META) has entered a multi-year agreement to procure NAND flash memory from Sandisk (NASDAQ: SNDK) as part of its extensive investment in artificial intelligence (AI) infrastructure. The deal, reported by Reuters, signals a significant focus on AI tech, with Meta’s projected expenditure on AI infrastructure reaching $145 billion this year, surpassing its forecasted cash flow of $136.6 billion.
Following the announcement, Meta’s stock initially fell by 4% but made a recovery by 11:40 a.m. ET, rising by 0.5%. In contrast, shares of Sandisk and other associated companies, including Broadcom (NASDAQ: AVGO) and Taiwan Semiconductor Manufacturing (NYSE: TSM), experienced upward momentum as investors reacted positively to the news. However, industry insiders have not officially confirmed the report.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
