Morgan Stanley Adjusts NAND Demand Forecast, Predicts AI Storage Demand to Hit 609 Exabytes by 2027 with 60% Annual Growth

According to Morgan Stanley's research report released on July 2, artificial intelligence-related NAND Flash demand is forecast to surge from 205 exabytes (EB) in 2025 to 400 EB in 2026, and 609 EB in 2027, representing approximately 60% year-over-year growth. AI demand's share of the overall NAND market is expected to rise from 18% in 2025 to 32% in 2026 and 41% in 2027, becoming the primary growth driver. However, Morgan Stanley warned that the memory industry has shifted from universal price appreciation to structural differentiation, with demand stratification emerging as AI server and enterprise SSD segments remain robust while consumer electronics markets show declining price tolerance.
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