Latest news with #SeagateTechnologyHoldingsplc
TECHx
15-07-2025
- Business
- TECHx
Seagate Launches 30TB Drives for AI and Edge Storage
Home » Emerging technologies » Storage » Seagate Launches 30TB Drives for AI and Edge Storage Seagate Technology Holdings plc (NASDAQ: STX), a mass-capacity data storage, announced the global availability of its 30TB Exos® M and IronWolf® Pro hard drives. These drives are built on Seagate's Mozaic 3+™ platform and use heat-assisted magnetic recording (HAMR) technology. The new solutions are designed to meet rising demand for scalable, high-performance storage driven by AI deployments and evolving enterprise infrastructure needs. Seagate revealed that over one million Mozaic hard drives have already been shipped. This milestone highlights the strength and maturity of the company's advanced storage technology. Melyssa Banda, SVP of Edge Storage and Services at Seagate, said AI workloads are reshaping global data flows and accelerating demand for efficient, high-capacity storage. She noted that Seagate's 30TB drives address these trends by delivering capacity, efficiency, and resilience. Industry experts agree that hyperscalers and enterprise data centers are ramping up AI infrastructure investments. Ed Burns, Research Director at IDC, stated that high-capacity HDDs are now seen as a critical asset for storing foundational data required to build high-quality AI models. Key insights include: HPE forecasts the on-prem AI market will grow at a 90% CAGR, reaching $42 billion in three years. NVIDIA describes 'AI factories' as data centers designed to transform data into intelligence at scale. As AI adoption grows, storage modernization is becoming foundational. Seagate's 30TB Exos M drive is engineered to meet demand for high-capacity, energy-efficient storage. It enables real-time edge analytics and supports scalable infrastructure without compromising performance or sustainability. The company also reported that industries like retail, manufacturing, and financial services are actively using edge AI for video analytics, fraud detection, and predictive maintenance. This shift is driving interest in disaggregated storage, which decouples compute and storage for more flexibility. With NAS systems evolving into intelligent data hubs, Seagate's IronWolf Pro 30TB drive is optimized for on-premise AI workloads. These include video analysis, image recognition, and retrieval-augmented generation (RAG). According to recent projections, the global NAS market is expected to grow at over 17% CAGR through 2034. Digital transformation and AI-driven analytics are fueling this growth. Dhaval Panara, Product Manager at QNAP, said QNAP NAS systems using IronWolf Pro 30TB drives enable enterprises to run local AI models and manage large datasets with speed and reliability. Evan Li, Head of International Business at UGREEN, added that Seagate's high-capacity drives provide the scalability and operational stability needed for AI at the edge. Seagate continues to advance its HAMR roadmap to meet growing storage needs in AI-driven environments.
Business Wire
15-07-2025
- Business
- Business Wire
Seagate Ships 30TB Drives to Meet Global Surge in Data Center AI Storage Demand
FREMONT, Calif.--(BUSINESS WIRE)--Seagate Technology Holdings plc (NASDAQ: STX), a global leader in mass-capacity data storage, today announced the global channel availability of up to 30TB Exos® M and IronWolf® Pro hard drives. Built on Seagate's Mozaic 3+™ platform and powered by heat-assisted magnetic recording (HAMR) technology, these drives are engineered to meet increasing demand for scalable, high-performance storage driven by the rise of AI deployments that are supplementing traditional enterprise infrastructure development. With over one million Mozaic hard drives now shipped, Seagate has reached more than just a milestone—it has marked a defining moment that underscores the strength and maturity of its breakthrough storage technology. With 1M+ Mozaic drives shipped, Seagate's milestone signals the strength and maturity of its breakthrough storage technology. Share 'Today, approximately 90% of the world's data is stored in just 10 countries. However, data gravity is increasingly pulling networks to the edge as nearly 150 countries adopt data sovereignty requirements, and AI workloads continue to expand. Datacenters—on-prem, private, and sovereign—are leveraging AI to unlock the value of their proprietary data,' said Melyssa Banda, SVP of Edge Storage and Services, Seagate. 'Our 30TB drives are designed to support these rapidly growing trends, delivering the capacity, efficiency, and resilience needed to power the AI workloads.' Industry leaders are aligning around the fundamental data management and infrastructure shifts: "Hyperscalers and enterprise data centers are in the early stages of an all-out arms race to develop AI infrastructure resulting in rapidly increasing capex spending on performance-oriented hardware," said Ed Burns, Research Director, Hard Disk Drive and Storage Technologies at IDC. "While not often associated with performance such as low latency, the highest capacity HDDs are a critical strategic asset in the AI development process, filling the need for mass capacity storage of the foundational data essential to building and improving the highest quality AI models in the market today and into the future. Enterprise customers are seeking ways to improve the density of their data centers, lowering power consumption and square footage requirements while ensuring storage continues to meet strategic requirements, and Seagate's new 30TB Exos product is the highest density hard drive offered in the industry today. Hyperscale and enterprise data center customers looking for optimal performance and cost tradeoffs for mass-capacity storage will benefit from Seagate's HAMR product roadmap, which is poised to accelerate areal density growth rates for HDDs in the years to come." HPE forecasts the on-prem AI market will grow at a 90% CAGR, reaching $42 billion within three years. 1 NVIDIA describes AI factories as 'data centers reimagined to manufacture intelligence at scale,' essential for transforming data into real-time insights across the AI lifecycle. 2 As AI becomes central to business strategy, modernizing storage is not optional—it's foundational. 30TB Hyperscale-Grade Exos & NAS-Optimized IronWolf Pro Arrive Just in Time for On-Prem AI Edge AI is no longer a future concept—it's happening now. According to IDC, industries such as retail, manufacturing, and financial services are actively deploying AI at the edge for video analytics, predictive maintenance, and fraud detection. This shift is accelerating the adoption of disaggregated storage architectures, which decouple compute from storage to enable more flexible, scalable infrastructure. The Seagate Exos M 30TB drive is built to meet increased demand for high-capacity, energy-efficient storage—empowering organizations to scale storage, optimize data placement, and support real-time edge analytics without compromising performance or sustainability. As AI-powered applications proliferate, on-premise NAS systems are evolving into intelligent data hubs—supporting advanced workloads such as video analytics, image recognition, retrieval-augmented generation (RAG), and inferencing at the edge. The convergence of AI, IoT, and hybrid cloud is fueling demand for high-capacity, high-integrity NAS solutions that can manage large, unstructured datasets with low latency and high throughput. Recent market analysis projects the global NAS market to grow at a CAGR of over 17% through 2034, driven by digital transformation and the rise of AI and big data analytics. 3 'QNAP NAS systems are increasingly used for on-premise AI workloads—enabling enterprises to run local AI models and leverage RAG and LLM technologies to process and analyze local datasets,' said Dhaval Panara, Product Manager, QNAP. 'By integrating Seagate's IronWolf Pro 30TB drives, we deliver petabyte-scale, high-integrity storage that ensures fast access, reliable performance, and scalable infrastructure at the edge.' 'With AI workloads increasingly moving to edge environments, reliable high-capacity storage becomes critical for local data processing. Seagate's IronWolf Pro 30TB drives provide the robust foundation UGREEN NAS systems require—delivering massive scalability and the operational stability needed for local AI applications,' said Evan Li, Head of International Business, UGREEN. Availability: The Exos M 30TB & 28TB and IronWolf Pro 30TB & 28TB drives are available now through Seagate online store as well as Seagate's authorized resellers and channel partners worldwide. Pricing: $599.99 - Exos M & IronWolf Pro 30TB; $569.99 - Exos M & IronWolf Pro 28TB For more information, please visit Seagate online store: Seagate is a global leader in mass-capacity data storage, having delivered over 4.5 billion terabytes of capacity over four decades. From edge to core to cloud, Seagate builds trust in data by delivering scalable, sustainable, and secure storage solutions. Learn more at 1. 2.
Yahoo
17-06-2025
- Business
- Yahoo
Loop Capital Markets Maintains a Buy on Seagate Technology (STX) With a $200 Price Target
Seagate Technology Holdings plc (NASDAQ:STX) is one of the . In a report released on June 9, Ananda Baruah from Loop Capital Markets maintained a Buy rating on Seagate Technology Holdings plc (NASDAQ:STX) with a price target of $200.00. The company's fiscal Q3 2025 results showed profitable year-over-year growth and margin expansion, with revenue of $2.16 billion. GAAP diluted EPS for the quarter reached $1.57, while non-GAAP diluted EPS was $1.90. A technician configuring a network-attached storage drive. Seagate Technology Holdings plc (NASDAQ:STX) reduced outstanding debt by $536 million in the quarter, with cash and cash equivalents totaling $814 million by quarter end. It generated $259 million in cash flow from operations and returned $152 million of capital to shareholders through its quarterly dividend. Seagate Technology Holdings plc (NASDAQ:STX) also declared a cash dividend of $0.72 per share. Seagate Technology Holdings plc (NASDAQ:STX) is a holding company that develops, produces, and distributes electronic data storage solutions and data storage products. Its offerings include solid-state hybrid drives, hard disk drives, solid-state drives, serial advanced technology attachment controllers, peripheral component interconnect express cards, and storage subsystems and computing solutions. While we acknowledge the potential of STX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
BofA Maintains Buy on Seagate Technology Holdings (STX) Stock, Raises PT
On May 28, BofA Securities exhibited a positive stance on Seagate Technology Holdings plc (NASDAQ:STX)'s stock by increasing the price target from $125.00 to $135.00, while maintaining a 'Buy' rating. The analyst demonstrated confidence in numerous aspects of Seagate Technology Holdings plc (NASDAQ:STX)'s business. A technician configuring a network-attached storage drive. These include the roadmap for areal density, capability to balance supply and demand across market cycles because of its customer base having few very large clients, and its cost management capabilities in future downcycles. Furthermore, the firm's analyst mentioned the long-term demand for hard disk drives (HDDs) in data centers and the expectation for elevated margin levels because of a product mix transition towards Heat-Assisted Magnetic Recording (HAMR) technology, which can be achieved without the need for incremental unit capacity investments. Overall, the optimism from BofA Securities on Seagate Technology Holdings plc (NASDAQ:STX)'s stock is mainly backed by the secular demand trends from Cloud services. The company's strong emphasis on innovation, mainly in HAMR technology, can help strengthen its competitive edge. Seagate Technology Holdings plc (NASDAQ:STX) provided new financial targets for the period through FY 2028, which are aided by HAMR technology adoption. Over FY 2025 – FY 2028, it expects revenue to see low-to-mid teens CAGR. Seagate Technology Holdings plc (NASDAQ:STX) provides data storage technology and infrastructure solutions. While we acknowledge the potential of STX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than STX and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None.
Business Wire
28-05-2025
- Business
- Business Wire
Seagate Commences Exchange Offers and Consent Solicitations for Eight Series of Senior Notes
FREMONT, Calif.--(BUSINESS WIRE)--Seagate Technology Holdings plc ('Seagate') (NASDAQ: STX) today announced the commencement of offers to certain Eligible Holders (as defined below) to exchange (collectively, the 'Exchange Offers' and each, an 'Exchange Offer') any and all outstanding notes of the following eight series issued by Seagate HDD Cayman ('Seagate HDD') (the 'Old Notes') for new notes to be issued by Seagate Data Storage Technology Ptd. Ltd ('SDST') (the 'New Notes') as described in the table below, and related consent solicitations upon the terms and conditions set forth in the confidential Offering Memorandum and Consent Solicitation Statement dated May 28, 2025 (the 'Offering Memorandum and Consent Solicitation Statement'). The following table below summarizes the principal economic terms of the Exchange Offers: __________________________ (1) Reflects the principal amount of Old Notes outstanding as of the date of the Offering Memorandum and Consent Solicitation Statement. (2) Consideration per $1,000 principal amount of Old Notes validly tendered and accepted for exchange. (3) The term 'New Notes' in this column refers, in each case, to the series of New Notes corresponding to the series of Old Notes of like tenor and coupon. (4) Includes the Early Participation Premium for Old Notes validly tendered prior to the Early Participation Deadline described below and not validly withdrawn. Expand Upon the terms and subject to the conditions set forth in the Offering Memorandum and Consent Solicitation Statement, in exchange for each $1,000 principal amount of Old Notes validly tendered, and not validly withdrawn, prior to 5:00 p.m., New York City time, on June 10, 2025, unless extended (such date and time, as it may be extended, the 'Early Participation Deadline'), Eligible Holders whose Old Notes are accepted for exchange will receive the total consideration set forth in the table above (the 'Total Consideration'), which consists of $1,000 principal amount of New Notes and a cash amount of $1.25. The Total Consideration includes an early participation premium set forth in the table above (the 'Early Participation Premium'), which consists of $50 principal amount of New Notes and $1.25 in cash. Eligible Holders whose Old Notes are validly tendered after the Early Participation Deadline and prior to the Expiration Time will only be eligible to receive the exchange consideration set forth in the table above (the 'Exchange Consideration'), which is equal to $950 principal amount of New Notes. The Exchange Offers commenced on May 28, 2025. The Exchange Offers will expire at 5:00 p.m., New York City time, on June 26, 2025, unless extended (such date and time, as it may be extended, the 'Expiration Time'). Tenders of Old Notes may not be withdrawn after 5:00 p.m., New York City time, on June 10, 2025, unless extended (such date and time, as it may be extended, the 'Withdrawal Deadline'), except in certain limited circumstances as set forth in the Offering Memorandum and Consent Solicitation Statement. The Exchange Offers are subject to certain conditions described in the Offering Memorandum and Consent Solicitation Statement. The principal difference between the Old Notes and the New Notes is the entities that will act as an issuer versus as a guarantor, as shown below: Other than the identity of SDST as the issuer and as an obligor, the terms of the New Notes are identical to the Old Notes with respect to their interest rate, interest payment dates, optional redemption prices and maturity. The New Notes will be issued by SDST and guaranteed by the same guarantors as the Old Notes and SDST's recently issued its 5.875% Senior Notes due 2030 (the '2030 Notes') in addition to Seagate HDD (which is the issuer of the Old Notes). The New Notes will have substantially the same covenants as the Old Notes and the 2030 Notes and are subject to the same business and financial risks. No accrued but unpaid interest will be paid on the Old Notes in connection with the Exchange Offers. However, interest on the applicable New Note will accrue from and including the most recent interest payment date of the tendered Old Note. In conjunction with the Exchange Offer, SDST is soliciting consents (the 'Consent Solicitations') to eliminate substantially all restrictive covenants and certain of the default provisions (the 'Proposed Amendments') in the indenture governing the Old Notes. Holders who tender their Old Notes in the Exchange Offer will be deemed to have submitted consents pursuant to the Consent Solicitation. Each Consent Solicitation with respect to a series of Old Notes is to amend the indenture governing such series of Old Notes. The consummation of the Exchange Offer is not subject to, or conditioned upon, the receipt of the requisite consents or to any minimum amount of Old Notes being tendered for exchange. Eligible Holders may not deliver consents without tendering such series of Old Notes in the Exchange Offer. Available Documents and Other Details Documents relating to the Exchange Offers and the Consent Solicitations will only be distributed to holders of Old Notes who complete and return an eligibility form confirming that they are either a 'qualified institutional buyer' as defined in Rule 144A or not a 'U.S. person' as defined in Rule 902 in compliance with Regulation S under the Securities Act and, if in Singapore, a separate eligibility form confirming that they are an 'accredited investor' as defined in Section 4A of the Securities and Futures Act 2001 of Singapore, as modified or amended from time to time (the 'SFA'), or an "institutional investor" as defined in Section 4A of the SFA, in each case pursuant to and in accordance with the requirements of the SFA. Holders Old Notes who desire to complete an eligibility forms should either visit or request instructions by sending an e-mail to contact@ or by calling Global Bondholders Services Corporation, the Exchange Agent and Information Agent for the Exchange Offers, at: +1 (855) 654-2014 (U.S. toll-free) or +1 (212) 430 3774 (banks and brokers). The complete terms and conditions of the Exchange Offers are set forth in the Offering Memorandum and Consent Solicitation Statement. This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell the New Notes. The Exchange Offers are only being made pursuant to the Offering Memorandum and Consent Solicitation Statement. The Exchange Offers are not being made to holders of Old Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. The New Notes have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the Offering Memorandum and Consent Solicitation Statement. The Exchange Offers and the issuance of the New Notes have not been registered with the U.S. Securities and Exchange Commission (the 'SEC') under the Securities Act, or any other applicable securities laws and, unless so registered, the New Notes may not be offered, sold, pledged or otherwise transferred within the United States or to or for the account of any U.S. person, except pursuant to an exemption from the registration requirements thereof. The Exchange Offers are being made, and the New Notes are being offered and will be issued, only (i) to holders of Old Notes that are 'qualified institutional buyers' as defined in Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'), in a private transaction in reliance upon the exemption from the registration requirements of the Securities Act provided by Section 4(a)(2) thereof, or (ii) outside the United States, to holders of Old Notes other than 'U.S. persons', as defined in Rule 902 under the Securities Act, in an offshore transaction in compliance with Regulation S under the Securities Act and that are not acquiring the New Notes for the account or benefit of a U.S. person (a holder satisfying at least one of the foregoing conditions being referred to as an 'Eligible Holder'), and, in each case, (w) if resident and/or located in any member state of the European Economic Area (the 'EEA'), that they are persons other than 'retail investors' (for these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, 'MiFID II'); or (ii) a customer within the meaning of Directive 2002/92/EC (as amended or superseded, the 'Insurance Mediation Directive'), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MIFID II; or (iii) not a qualified investor as defined in Directive 2003/71/EC (as amended or superseded, the 'Prospectus Regulation')), (x) if resident and/or located in the United Kingdom, not a person who is one (or more) of the following: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the 'EUWA'); (ii) a customer within the meaning of the provisions of the Financial Services and Markets Act 2000 (as amended, the 'FSMA') and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the EUWA; or (iii) not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA (the 'U.K. Prospectus Regulation'), (y) if resident and/or located in the United Kingdom, either (i) a person having professional experience in matters relating to investments and falling within the definition of investment professionals as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the 'Order'), (ii) a person falling within Article 43(2) of the Order, or (iii) a person to whom the Offering Memorandum and Consent Solicitation Statement and other documents or materials relating to the New Notes may otherwise lawfully be communicated in accordance with the Order, and (z) if in Singapore, (i) to an institutional investor (as defined in Section 4A of the SFA) pursuant to Section 274 of the SFA, or (ii) to an accredited investor (as defined in Section 4A of the SFA) pursuant to and in accordance with the conditions specified in Section 275 of the SFA, and (where applicable) Regulation 3 of the Securities and Futures (Classes of Investors) Regulations 2018. Pursuant to the registration rights agreement, the SDST and the Guarantors are required to consummate an offer to exchange the New Notes offered hereby for a new issue of notes registered under the Securities Act to be declared effective no later than 451 days after the date the New Notes offered hereby are issued, unless the New Notes offered hereby are then freely transferable. About Seagate Seagate Technology is a leading innovator of mass-capacity data storage. We create breakthrough technology so you can confidently store your data and easily unlock its value. Founded over 45 years ago, Seagate has shipped over four billion terabytes of data capacity and offers a full portfolio of storage devices, systems, and services from edge to cloud. © 2025 Seagate Technology LLC. All rights reserved. Seagate, Seagate Technology, and the Spiral logo are registered trademarks of Seagate Technology LLC in the United States and/or other countries. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical fact. Forward-looking statements include, among other things, statements about the terms and conditions of, and completion of, the Exchange Offers and the Consent Solicitations, each as described above. The Company cannot assure that the offering will be consummated, nor can it guarantee the size or terms of the offering. Forward-looking statements generally can be identified by words such as 'expects,' 'intends,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'predicts,' 'projects,' 'should,' 'may,' 'will,' 'will continue,' 'can,' 'could,' or the negative of these words, variations of these words and comparable terminology, in each case, intended to refer to future events or circumstances. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on information available to the Company as of the date of this press release and are subject to known and unknown risks and uncertainties that could cause the Company's actual results, performance or events to differ materially from historical experience and the Company's present expectations or projections. These risks and uncertainties include, but are not limited to, those described under the captions 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in the Company's latest periodic report on Form 10-Q or Form 10-K filed with the SEC. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on, and which speak only as of, the date hereof. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law.
