The global NAND Flash industry continued to benefit from AI infrastructure build-outs in 4Q25, according to TrendForce's latest research. All in all, the combined revenue of the top five NAND flash suppliers sharply rose 23.8% QoQ to US$21.17 billion.

The primary growth driver was explosive demand for enterprise SSDs, fueled by large-scale AI server deployments by North American CSPs. Meanwhile, severe HDD shortages and extended lead times accelerated a shift in orders toward NAND solutions, which further tightened supply. The resulting imbalance worsened NAND shortages and pushed prices higher, directly boosting supplier revenues.