Seagate stock surges on AI-driven revenue beat

Seagate Technology reported Q3 revenue of $3.11 billion, exceeding analyst expectations, and projected Q4 revenue of $3.45 billion, also above consensus. The data storage company attributed the strong performance to surging demand from AI applications, which require massive data storage and retrieval capabilities. The earnings beat and raised forecast sent Seagate's stock price sharply higher in after-hours trading. The results underscore how AI infrastructure spending is boosting traditional hardware companies beyond just chipmakers like Nvidia.