What's Behind Western Digital's SanDisk Share Sale

Key Takeaways

• Western Digital's $3.08 billion secondary offering of SanDisk shares is a calculated move to optimize its balance sheet and fuel its strategic pivot into AI-driven storage.
• SanDisk has delivered a staggering 1,400% return since its February 2025 spin-off, capitalizing on insatiable AI and data center demand for NAND flash.
• Western Digital itself is aggressively repositioning as a pure-play AI storage provider, evidenced by a $4 billion share buyback and robust TTM financial performance.