SanDisk (NASDAQ:SNDK) has chosen Taiwan-based Nanya Technology over the only major American DRAM player, Micron Technology, for its $1 billion investment in Nanya. This move is seen as a pre-emptive move to secure access to supply in a tightening market due to the increasing demand for AI infrastructure, which is increasing across the industry. The investment indicates that reliable supply chains are taking priority over geography, which contradicts the broader narrative of reshoring and domestic semiconductor independence. The company's stock performance has seen a 1,600% surge, suggesting it is preparing for the next phase of the cycle where constraints, not growth, define outcomes.