Seagate (STX) Touches All-Time High as Jensen Huang Bullish for Storage Market

Core Viewpoint - Seagate Technology Holdings plc has reached an all-time high in stock price, driven by positive sentiment from Nvidia's CEO regarding the growth potential in the memory and storage markets, particularly in relation to artificial intelligence [1][4]. Group 1: Stock Performance - Seagate Technology's stock price peaked at $332 during intra-day trading, ultimately closing up 14% at $330.42 [2]. - The company's stock rally was influenced by the bullish outlook on the storage sector, which is expected to be a significant market for AI-related storage needs [1][4]. Group 2: Market Insights - Nvidia's CEO, Jensen Huang, highlighted that the storage sector is currently "a completely unserved market," indicating substantial growth potential as it will likely become the largest storage market globally [3]. - Huang emphasized that the demand for AI-related storage is exceeding current infrastructure capabilities, suggesting a critical need for advancements in this area [4]. Group 3: Executive Transactions - Seagate's CEO, William Mosley, sold $5.7 million worth of ordinary shares in a series of transactions, with share prices ranging from $281.09 to $289 [5][6]. - Following these transactions, Mosley retains approximately 430,000 direct shares in the company [6].