In the quiet aftermath of its separation from Western Digital, Sandisk has become an unlikely emblem of the AI infrastructure era — a company whose mundane-sounding product, flash storage, has been pulled into the gravitational field of a technological transformation it did not initiate but now cannot escape. Its shares have risen thirtyfold in roughly a year, yet analysts argue the market has not yet reckoned with what nearly $94 billion in committed contracts actually means for a business once defined by cyclical volatility. The deeper question is not whether Sandisk has risen too far, but w