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

We recently published 10 Stocks With Eye-Popping Double-Digit Gains; 4 Hit All-Time Highs. Seagate Technology Holdings plc (NASDAQ:STX) was one of the top performers on Tuesday.

Seagate Technology climbed to a new all-time high on Tuesday, as investors took heart from Nvidia Corp. President and CEO Jensen Huang’s bullish outlook for the memory and storage markets, citing their massive growth potential amid the rapidly growing artificial intelligence sector.

At intra-day trading, the stock soared to its highest price of $332 before trimming gains to end the day just up by 14 percent at $330.42 apiece.

Seagate Technology’s headquarters. Photo from Seagate website

Speaking at the CES 2026, Huang said that the storage sector “is a completely unserved market today.”

“This market will likely be the largest storage market in the world, basically holding the working memory of the world’s AIs,” he noted.

Huang underscored that AI-related storage needs are currently outpacing current infrastructure capabilities, saying that the amount of context and token memory that needs to be processed “is now just way too high.”

Following Huang’s comments, Seagate Technology Holdings plc (NASDAQ:STX) rallied alongside its peers, namely Western Digital Corp., Sandisk Corp., and Micron Technology Inc., among others.

In other news, Seagate Technology Holdings plc (NASDAQ:STX) last Friday said that its chief executive officer, William Mosley, disposed of $5.7 million worth of ordinary shares in the company in a series of selling transactions on the same day. The shares were sold at prices ranging from $281.09 to $289 apiece. The transaction brought Mosley’s remaining direct shares in the company to around 430,000.

While we acknowledge the risk and potential of STX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than STX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.