Stock Track | Seagate Technology Soars 6.15% Intraday as Chip Stocks Rally Ahead of Nvidia's GTC Event

Stock Track03-16 21:38

Seagate Technology PLC's stock soared 6.15% during intraday trading on Monday, reflecting strong positive momentum for the data storage company.

The surge appears to be part of a broader rally in chip stocks ahead of Nvidia's GTC 2026 event, which kicks off in San Jose, California, on Monday. Nvidia's annual conference is expected to feature significant announcements including details of the company's roadmap, potential debut of a new chip platform with Groq technology, and expansion into custom CPUs.

Market sentiment toward semiconductor companies has turned positive as investors anticipate Nvidia will showcase its full-stack AI factory approach and proprietary optical technology for improved energy efficiency and higher bandwidth, which could benefit the broader chip ecosystem including storage companies like Seagate.

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