Western Digital Says Cloud Customers Discuss Storage Needs Through 2031

Western Digital Chief Financial Officer Kris Sennesael said hyperscale cloud customers have discussed storage needs for 2030 and 2031, while slower AI momentum could help the company catch up with the supply-demand gap. Sennesael said the cloud customers continue to increase capital spending. He said a slowdown in AI momentum could help Western Digital catch up with demand for storage. The company’s latest quarterly results exceeded expectations. Western Digital forecast adjusted earnings per share of up to $6 for its second fiscal quarter, compared with an analyst average estimate of $4.80, and raised its quarterly dividend by 17%.

Source: TokenPost