ATLAS News · Technology

Seagate shares rally as CoreWeave results ease AI funding worries

Published November 11, 2026 · 2 sources

TradingView and 24/7 Wall St. report Seagate stock rebounded after CoreWeave's results eased concerns about AI infrastructure financing.

What happened

TradingView reports that Seagate Technology (STX) shares jumped 11.36% in regular trading on Wednesday, November 11, as of 10:55 a.m. ET. The move followed CoreWeave's results and its pledge to rely on contract-backed financing.

According to TradingView, that pledge eased fears about how AI infrastructure gets funded, which revived interest in nearline storage demand. It cites 24/7 Wall St. in noting that Seagate had fallen about 30% over the past month.

24/7 Wall St. adds that Seagate has beaten earnings for the sixth straight quarter, yet its shares sank 20% within a week and still trade at a bargain multiple. The outlet questions what the hard drive business shows that Wall Street bulls may be missing.

Context

Seagate makes hard disk drives, which are used for large-scale data storage, including in data centers that support AI workloads.

Why it matters

The reaction shows how closely sentiment toward AI infrastructure funding can be tied to the shares of storage hardware makers like Seagate.

Stocks in this story

Price changes are shown for the trading day of the story and are a coincidence in time, not proof that the news caused them. Figures are ATLAS data from our database.

Seagate TechnologySTX

+9.99%

Technology · NASDAQ

Live price

$522.99▲ +9.99%

live price · USD

Close on November 11: $551.72+9.99% vs. previous close ($501.62)
Fair value (ATLAS): $255.57Fair range: $176.92 to $282.04The price ($522.99) is 104.6% above that figure.
Chance of a rise in 1 month: 45%Probability of closing higher than today within 21 sessions.Normal range: half of the scenarios end between $433.68 and $594.87; 9 in 10, between $327.72 and $787.21.

See the full ATLAS analysis of Seagate Technology →

Closing prices, fair value and probabilities: ATLAS own data. How we calculate fair value.

Sources

ATLAS writes its own summaries from the reporting of these outlets. Each link opens the original publisher.

Seagate Stocks Jump 11.36% as CoreWeave Results Revive Nearline Storage Demand · TradingView · November 11, 2026
Seagate’s Legitimacy as a Play on AI Hardware Demand is About To Be Tested · 24/7 Wall St. · November 12, 2026

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Information, not advice. This content is informational and is not an investment recommendation or an offer to buy or sell securities. ATLAS estimates come from statistical models using public data, can be wrong, and past performance does not guarantee future results. Disclaimer