Reported about 13 hours ago
Shares of data storage companies Western Digital and Seagate have skyrocketed over 200% this year due to increased demand for hard drives driven by the AI boom. Both companies reported strong forecasts for second-quarter earnings, with Western Digital's stock rising over 11% on Friday. Analysts highlight substantial purchase orders and ongoing investments in AI infrastructure as key factors behind this growth. The tech hardware sector has also seen a significant rise in value, with projections suggesting global AI-related spending could reach up to $4 trillion by 2030.
Source: YAHOO