Seagate Technology positioned as AI infrastructure cornerstone.

Seagate Technology positioned as AI infrastructure cornerstone. HAMR technology has transitioned from development roadmap to active production with major hyperscalers, marking a critical inflection point for the storage giant. Nearline capacity is fully allocated through 2026 with orders now opening for 2027, establishing Seagate as a supply assurance asset in the competitive AI infrastructure race. Mozaic 4+ HAMR drives are qualified and generating revenue, supporting higher capacity shipments and improved product mix. Despite trading at sector premium valuations on traditional P/E and EV/EBITDA metrics, the forward PEG ratio of 0.75x suggests significant upside potential given AI-driven demand tailwinds. The combination of production ramp, customer commitments, and margin expansion from technology maturation positions Seagate for substantial earnings power growth in coming years.