Sandisk forecasts upbeat quarterly revenue on AI-driven demand

Sandisk forecast quarterly revenue above estimates on Wednesday, banking on rising demand for its memory chips used ‌in AI data centers. Shares of the Milpitas, California-based company fell nearly 8% in ‌extended trading, after the midpoint of its current quarter profit forecast beat LSEG estimates but fell below estimates ​from other data providers. In an interview with Reuters, CEO David Goeckeler said the company has shifted its sales toward long-term, rather than quarterly, purchase agreements.