From Yahoo Finance: 2025-05-07 12:28:00

Seagate Technology Holdings is working on a 100-terabyte hard drive by 2030, aiming to triple current capacity. The company’s largest drive is 36 terabytes. Seagate’s chief commercial officer cites strong demand and sustainability needs amid AI energy concerns.

Big Tech, including Amazon, Microsoft, Alphabet, and Meta, is investing heavily in AI infrastructure. Microsoft plans to spend $80 billion on data centers in fiscal 2025. Meta is reportedly considering a $200 billion AI data center campus.

Seagate reported third-quarter sales of $2.16 billion, missing estimates. Fourth-quarter revenue is expected at $2.25 billion-$2.55 billion, with adjusted earnings of $2.20-$2.60 per share. STX stock is up 1.16% at $94.99.

Seagate’s stock has gained nearly 9% year-to-date. Despite missing analyst estimates, the company remains optimistic about future revenue and earnings. STX stock is currently trading at $94.99.

Seagate is betting on mega-sized, sustainable drives to meet the growing demand for data driven by AI technology. The company’s focus on innovation and sustainability reflects its commitment to meeting the evolving needs of the industry.

Read more: Seagate Bets On Mega-Sized, Sustainable Drives As AI Sparks Record Data Demand