Seagate Revenue Rises 34% on AI Data Center Demand

Seagate Technology reported fiscal 2026 revenue of $12.2 billion, marking a 34% year-over-year increase. The growth stems from surging demand for high-capacity hard disk drives (HDDs) used in AI data centers to support larger training data sets and complex applications.

The company has already allocated most of its nearline hard drive supply through 2027 and is extending strategic planning into 2028. To sustain this momentum, Seagate is utilizing its Mozaic platform and heat-assisted magnetic recording (HAMR) technology.

Production has begun on Mozaic 4+ drives, which offer capacities up to 44 terabytes, for two leading cloud providers. Seagate expects Mozaic 5+ drives to reach qualification shipments in late 2027 to further increase storage density for cloud infrastructure.