Higher mass capacity revenues were driven by stronger nearline cloud demand. Mass capacity revenues surged 40% year over year to $2 billion. In the June quarter, nearline drives accounted for 91% of the total mass capacity exabytes shipped. Nearline shipments to cloud and edge data centers comprised most of the mass capacity volume. In addition to strong demand from cloud providers, nearline sales to enterprise and OEM customers saw slight quarter-over- quarter growth, and demand is expected to remain stead ...

Core Insights - Seagate Technology Holdings plc has launched its highest-capacity hard drives, the 30TB Exos M and IronWolf Pro, available globally at prices of $599.99 and $569.99 respectively for the 30TB and 28TB variants [1][2] Group 1: Product Launch and Technology - The new drives utilize Seagate's Mozaic 3+ platform and HAMR technology, addressing the increasing demand for high-performance storage driven by AI adoption [2][10] - The Exos M 30TB and IronWolf Pro 30TB drives are designed for real-time edge analytics and advanced workloads, supporting applications like image recognition and predictive maintenance [4][10] Group 2: Market Trends and Demand - The global NAS market is projected to grow at a CAGR of over 17% through 2034, driven by digital transformation and the rise of big data and AI analytics [5] - Nearly 90% of the world's data is stored in just 10 countries, but data sovereignty regulations are prompting a shift towards edge computing [5][6] Group 3: Strategic Positioning - Seagate's focus on advanced technologies like HAMR is expected to enhance its market position in mass capacity storage solutions [7][8] - The company anticipates that the ramp-up of HAMR technology will meet the growing demand for cost-effective mass storage solutions driven by AI and machine learning [8][9]