HSBC: Samsung to Benefit from Surging AI-Driven NAND Demand.

HSBC's Ricky Seo and Han Kil Chang wrote in a report that Samsung Electronics will benefit from the surge in demand for AI-driven NAND products. NAND is a type of storage chip that can retain data even during power outages, unlike DRAM which requires power to save data. These analysts from HSBC stated that as the focus of new AI server designs shifts from training to inference, they require more memory, including NAND storage, to improve response times for large language models and intelligent personalized AI services. They raised their operating profit expectations for Samsung in 2026 and 2027 by 18%-27%. They added that Samsung held 35% of the NAND market share in the third quarter of 2025.