SeagateSTX

Seagate is one of the two dominant makers of nearline hard disk drives used in hyperscale data centers. Its Mozaic 4+ platform, built on heat-assisted magnetic recording (HAMR), supports drives up to 44 terabytes and was qualified and in production with two hyperscale customers as of March 2026. Its fiscal fourth-quarter 2026 gross margin reached 52.3%, up from 37.4% a year earlier, making it a central test of whether AI-driven data growth translates into durable storage economics.