Seagate Stock Jumps As AI Storage Demand Sends Forecast Past Wall Street
Seagate Technology jumped after hours Tuesday, buoyed by a fiscal third-quarter beat and an upbeat forecast. The company pointed to robust demand for hard drives in AI data centers as the key driver. The shift is significant: AI infrastructure doesn't just hinge on chips. Firms working with AI require vast storage—handling data, outputs, logs—which sets up high-capacity hard-disk drive suppliers for a larger role. HDDs, those spinning disks, deliver bulk data storage at a price point below much of the flash-based competition.