Seagate and Western Digital Fall as Toshiba Expands AI HDD Capacity

$STX fell about 10% and $WDC dropped roughly 7% as Toshiba outlined plans to invest around $380 million to double HDD production capacity for AI data centers by FY2027.
Toshiba plans to expand its Philippines facility and is targeting 65TB hard drives by 2030, with an eventual goal of reaching 100TB.
Tight memory supply and SSDs costing roughly 20x more are helping push additional AI storage demand toward HDDs.