Seagate CCO says storage price hikes are ‘the new normal’ — demand enters an unprecedented ‘supercycle’ driven by AI growth

Seagate's Chief Commercial Officer, Ban-Seng Teh, states that storage price increases are now the norm due to a supercycle fueled by AI growth, deviating from past market patterns. The company is experiencing rising costs from increased DRAM prices, impacting its margins. Additionally, Seagate faces challenges from volatile oil prices affecting logistics. Despite these pressures, Seagate is meeting the demand surge by shipping its advanced Mozaic 4+ platform with HAMR technology to cloud providers, indicating that high storage prices are likely to persist.