Seagate Technology Holdings (NASDAQ:STX) is amid efforts to develop a 100-terabyte hard drive by 2030.
Seagate’s chief commercial officer, BS Teh, told CNBC on Wednesday that the data storage firm aims to launch a drive with about three times the capacity of its top-notch hard drives by 2030.
The largest hard disk drive Seagate currently produces is the 36-terabyte Exos M model.
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Teh expressed conviction in strong demand, underlining the need for the 100-terabyte hard drive. Teh also said Seagate is amid efforts to counter climate concerns surrounding AI’s energy demands.
Teh expressed conviction in hard disk drive prospects, citing it as a much more sustainable device technology.
Big Tech’s 2025 AI infrastructure investments included Amazon.com Inc.’s (NASDAQ:AMZN) $100 billion, followed by Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) at $80 billion each, and Meta committing over $60 billion.
Microsoft expects to spend $80 billion on data centers in fiscal 2025.
February reports indicated Meta Platforms, Inc. (NASDAQ:META) is in talks to build an AI data center campus that could exceed $200 billion in costs.
Seagate Technology Holdings stock gained close to 9% year-to-date. It reported third-quarter sales of $2.16 billion (versus $1.66 billion Y/Y), missing the analyst estimate of $2.31 billion. It reported adjusted earnings per share of $1.90, missing the analyst estimate of $2.09.
Seagate expects fourth-quarter revenue of $2.25 billion-$2.55 billion, versus the $2.43 billion estimate, and adjusted earnings of $2.20-$2.60 per share, versus the $2.20 analyst estimate.
Price Action: STX stock is up 1.16% at $94.99 at the last check on Wednesday.
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