# Seagate (STX): HDDs Roar Back on AI Storage Demand

Page: https://stenobird.com/podcast/chip-stock-investor-podcast-6441813/seagate-stx-hdds-roar-back-on-ai-storage-demand
Text version: https://stenobird.com/podcast/chip-stock-investor-podcast-6441813/seagate-stx-hdds-roar-back-on-ai-storage-demand.md
Podcast: [Chip Stock Investor Podcast](https://stenobird.com/podcast/chip-stock-investor-podcast-6441813)
Published: 2026-08-02T15:00:00+00:00
Episode link: https://podcasters.spotify.com/pod/show/chipstockinvestor/episodes/Seagate-STX-HDDs-Roar-Back-on-AI-Storage-Demand-e3mn0li
Audio file: https://anchor.fm/s/e2cacf78/podcast/play/123486322/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-6-29%2F428840277-44100-2-b8a71945c3961.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/chip-stock-investor-podcast-6441813/episodes/seagate-stx-hdds-roar-back-on-ai-storage-demand
Duration seconds: 704

## Resource

Seagate's latest results show hard disk drives making a real comeback as NAND and SSD prices rise and hyperscalers turn to HDDs for flexible, massive AI storage capacity. CSI breaks down a quarter where exabyte shipments grew 34% year over year, with 90% going to data centers, data center revenue up 57% to $2.9 billion, and total revenue up 48%. The conversation covers Seagate's broad shipments of Mozaic 3, the ramp of 40TB-plus Mozaic 4 with the two largest global cloud service providers, and plans for Mozaic 5 qualification shipments in late 2027. We also dig into how Seagate plans to grow without expanding manufacturing capacity, using vertically integrated HAMR technology to increase terabytes per drive, and how that strategy is driving profitability, debt reduction, buybacks, and dividend support. Finally, we look at guidance for Q1 FY2027, which implies revenue of roughly $4.1 billion, about 36% year-over-year growth at the midpoint, and what that means for the broader memory cycle story heading into 2027. Semi Insider members get access to CSI's research platform and tools, plus deeper research as it happens. Join at chipstockinvestor.com. Get 15% off your fiscal.ai membership with our link: fiscal.ai/csi This content is for general information or entertainment only and is not specific or individual investment advice. Forecasts may not develop as predicted, and there is no guarantee any strategy discussed will be successful. All investing involves risk, including loss of principal. CSI owns shares of Seagate.

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/chip-stock-investor-podcast-6441813/episodes/seagate-stx-hdds-roar-back-on-ai-storage-demand/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/chip-stock-investor-podcast-6441813/seagate-stx-hdds-roar-back-on-ai-storage-demand.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.