MU, SNDK, SKHY: Memory Stocks Surge Overnight After Nvidia More Than Doubles Purchases

• Nvidia CEO Jensen Huang said memory availability is now a key constraint on Nvidia’s ability to meet its long-term growth outlook.

• Nvidia maintains long-standing relationships with all three major memory suppliers, SK Hynix, Samsung, and Micron. 

• Micron has rebounded 14% this month and SanDisk 23%, clawing back some of their steep July losses.

Shares of memory chipmakers gained on Wednesday after Nvidia Corp. reported another blowout quarter and signaled a sharp focus on securing memory supplies with billions of dollars in planned investments.

The stance from the world’s biggest chipmaker is another bullish signal for the memory trade, suggesting memory chip sales could remain elevated for years. Semiconductor sales and memory demand tend to move in tandem, and Nvidia’s upbeat report — with revenue more than doubling last quarter and the company forecasting 70% growth in fiscal 2028 — further strengthened the positive sentiment.

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Micron and SanDisk stocks each gained 3.2% in late Wednesday overnight trading, while U.S.-listed shares of SK Hynix advanced 4%. 

Nvidia Races To Secure Memory

Nvidia said it continues to make strategic commitments across supply, infrastructure, and partner ecosystems.

“We’ve partnered with our extensive network of…