Seagate (STX) supplies high-capacity hard drives for AI data centers, where demand for storing training data and running models keeps rising. In fiscal 2026, which ended July 3, revenue reached $12.2 billion, up 34% year over year, driven by stronger data center demand. Seagate says its nearline hard drive supply is mostly allocated through 2027, and strategic planning extends into 2028. The company has moved its Mozaic 4+ drives, with capacities up to 44 terabytes, into production with two leading cloud providers, while Mozaic 5+ is progressing toward qualification shipments in late 2027. The article treats these milestones as key points to watch.
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