Seagate CEO: Memory Chip Demand Is Higher Than Its Forecasts -- Market Talk

Dow Jones01:23

1322 ET - Seagate Technology has held off on adding capacity, waiting to make sure that demand forecasts for data-storage solutions were real. "Now it appears that not only are the forecasts real, but the demand is significantly higher," CEO Dave Mosley says at JPMorgan's Global Technology, Media and Communications Conference. Seagate is now trying to answer that demand as aggressively as it can, Mosley adds, saying capacity to meet the data storage needs of quickly growing artificial-intelligence applications. Shares sink 9%, as investors worry the mass-capacity data storage company won't be able to keep up with demand for memory chips. (connor.hart@wsj.com)

(END) Dow Jones Newswires

May 18, 2026 13:23 ET (17:23 GMT)

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Seagate is now trying to answer that demand as aggressively as it can, Mosley adds, saying capacity to meet the data storage needs of quickly growing artificial-intelligence applications. Shares sink 9%, as investors worry the mass-capacity data storage company won't be able to keep up with demand for memory chips. 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