Memory chip stocks are rallying after SanDisk and SK Hynix announced the first open standard for High Bandwidth Flash (HBF), a new memory tier designed to address AI bottlenecks. The news, revealed at the Flash Memory Summit, triggered bullish analyst calls and price target hikes, citing a sustained AI-driven memory upcycle. This catalyst builds on an existing backdrop of soaring demand and tight supply for AI-related memory like HBM, which has been driving a broader memory "supercycle" throughout 2026.