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Seagate leads memory sell-off as CEO says it would 'take too long' to build new factories

Cnbc · · 303 words · By CJ Haddad
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Daily briefing

What to know about Seagate leads memory sell-off as CEO says it would 'take too long' to build new factories

Shares of memory chip maker Seagate slipped more than 8% Monday, leading a group-wide sell-off after comments from CEO Dave Mosley raised concerns that it won't be able to meet the soaring demand fueled by the artificial intelligence buildout.

Claims checked 5
Techniques found 0
Topics 0

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center75%
Right25%

4 sources compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Shares of memory chip maker Seagate slipped more than 8% Monday, leading a group-wide sell-off after comments from CEO Dave Mosley raised concerns that it won't be able to meet the soaring demand fueled by the artificial intelligence buildout.

Why it matters

Mosley was asked at a JPMorgan conference on Monday what it would take to add unit or floor capacity to produce more chips in Seagate's factories.

Common ground

"If we took the teams off and started building new factories or bringing up new machines, that would just take too long.

Perspective signals

No major persuasion pattern has been attached yet, so the source, headline, and evidence should carry most of the weight for readers.

open_in_new Read the original article: https://www.cnbc.com/2026/05/18/seagate-memory-chip-stocks-ai.html

fact_checkClaims Checked

eFinder analyzed this article and checked 5 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

info Single Source 3
help Insufficient Evidence 2
info
Claim 1: “CEO Dave Mosley [spoke] at a JPMorgan conference on Monday”
SINGLE SOURCE
While evidence confirms Dave Mosley is the CEO of Seagate, there is no mention in the provided search results of him speaking at a JPMorgan conference on a Monday.
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web search NEUTRAL — Seagate CEO Dave Mosley says AI is driving a structural shift in data storage demand, and the company’s latest earnings back up that bold claim.Something is shifting fast in the world of data storage,…
https://www.thestreet.com/investing/seagate-stx-stock-ceo-he…
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web search NEUTRAL — Dr. Dave Mosley is Chairman of the Board and Chief Executive Officer of Seagate, a global… · Experience: Seagate Technology · Education: University of California, Davis · Location: Los Gatos · 500+ co…
https://www.linkedin.com/in/dave-mosley
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web search NEUTRAL — Bloomberg Originals Host & Executive Producer Emily Chang interviews JPMorgan Chase CEO Jamie Dimon, a titan in the banking industry who’s known for his free...
https://www.youtube.com/watch?v=9Kl-wO_j5GM
info
Claim 2: “CME Group is launching a new futures market for semiconductors”
SINGLE SOURCE
One web search result mentions CME is set to introduce a futures market supported by AI (via Odaily), but it does not explicitly specify a 'semiconductor' futures market, rather 'AI-Powered Computing Power'. Only one source provides a related but not identical fact.
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web search NEUTRAL — CME Group Inc. (formerly Chicago Mercantile Exchange Holdings Inc.) is an American financial services company based in Chicago, Illinois.
https://en.wikipedia.org/wiki/CME_Group
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web search NEUTRAL — The Chicago Mercantile Exchange (CME) is set to introduce a futures market supported by artificial intelligence. According to Odaily, CME will collaborate with data and analytics company Silicon Data.
https://www.binance.com/en/square/post/05-12-2026-cme-to-lau…
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web search NEUTRAL — CME Group is the world's leading and most diverse derivatives marketplace offering the widest range of futures and options products for risk management.Where risk meets opportunity. Explore new offeri…
https://www.cmegroup.com/
help
Claim 3: “Micron shares were down 5%”
INSUFFICIENT EVIDENCE
The claim states Micron shares were 'down 5%', but the evidence from MoneyCheck explicitly states 'Micron shares jumped approximately 5% Monday'.
travel_explore
web search NEUTRAL — Micron Technology, Inc. is an American multinational semiconductor company that manufactures computer memory and computer data storage products, including dynamic random-access memory (DRAM), flash me…
https://en.wikipedia.org/wiki/Micron_Technology
travel_explore
web search NEUTRAL — Micron shares jumped approximately 5% Monday while the S&P 500 remained essentially unchanged. The stock has advanced in 11 out of 15 recent trading sessions and has more than doubled since March’s en…
https://moneycheck.com/micron-mu-stock-surges-5-on-tight-mem…
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web search NEUTRAL — Shares of Micron Technology (NASDAQ:MU | MU Price Prediction) are surging on Wednesday, trading at around $804 and up roughly 5% on the session. The move extends a parabolic one-month run that has the…
https://247wallst.com/investing/2026/05/13/micron-is-now-up-…
info
Claim 4: “Shares of memory chip maker Seagate slipped more than 8% Monday”
SINGLE SOURCE
The provided web search results do not contain information regarding Seagate shares slipping 8% on a Monday; one result mentions shares 'soaring' but does not provide a specific date or percentage that corroborates the claim.
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web search NEUTRAL — How Seagate Shares Soar? What Drives the Movement? Since key financial reporting periods, Seagate—listed as SEC-240090—has delivered solid results supported by steady revenue and disciplined cost mana…
https://moon-smoking.com/resource/seagate-shares-soar-is-thi…
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web search NEUTRAL — Hertz shares soared on the news. The stock is up more than 9% as of this writing. Meanwhile, Morgan Stanley analyst Adam Jonas increased his 12-month price target on Tesla shares from $900 to $1,200.
https://www.fool.com/investing/2021/10/25/why-tesla-stock-an…
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web search NEUTRAL — Sponsor Message. Scientists have detected more than 900 drug ingredients in natural waterways around the world, from antibiotics to antidepressants. Many of these drugs, especially ones that act on th…
https://www.npr.org/2025/04/14/nx-s1-5359433/anxiety-drugs-f…
help
Claim 5: “SanDisk and Western Digital Corporation trading roughly 7% lower”
INSUFFICIENT EVIDENCE
The claim states SanDisk and Western Digital were trading 'roughly 7% lower', but the evidence from a web search explicitly states 'Western Digital WDC shares surged 7% on Monday'.
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web search NEUTRAL — Western Digital WDC shares surged 7% on Monday as investors increased bets on companies positioned to benefit from the accelerating AI-driven memory and storage boom.
https://finwire.io/news/stock-markets-news/western-digital-r…
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web search NEUTRAL — Western Digital, leaders in digital storage solutions compatible with Mac and PC. FREE shipping, friendly support, and 30-day return policy on storage products.
https://www.westerndigital.com/
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web search NEUTRAL — Recent corporate actions have also influenced trading. In February 2026, Western Digital announced plans to sell a portion of its remaining stake in SanDisk through a secondary offering valued at arou…
https://www.ibtimes.com/sandisk-corporation-shares-surge-vol…
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.