TREE NEWS reports: Seagate and Toshiba are competing to acquire TDK’s hard disk drive head business, with the deal potentially worth several billion dollars, people familiar with the matter said. Toshiba opened talks with TDK in the spring, and Seagate followed with a higher offer in the summer, as both seek to meet surging AI data-center demand for storage. TDK shares rose 7.3% in Tokyo on Tuesday afternoon on volume nearly three times the 20-day average.
Seagate, Toshiba Reportedly Bid for TDK’s HDD Head Unit
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AI take
The bidding war matters less as a deal story than as a signal about where AI storage capacity is being contested: head supply is a narrow chokepoint, and both bidders are vertically integrating rather than relying on TDK. TDK's share move on heavy volume suggests the market reads a sale as likely, not speculative. Whether Seagate's higher offer prevails, and whether TDK actually exits a business it has supplied to rivals, is the open question.
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