Seagate Stake Cut 61% by KBC Group, Defying AI Growth Outlook

KBC Group NV sold 393,552 shares of Seagate Technology Holdings PLC during the first quarter. This transaction reduced the firm's total position by 61.6% according to a recent SEC filing.

KBC Group now holds 245,061 shares of the data storage provider. The remaining stake was valued at approximately $96 million at the time of the report.

The divestment occurs as analysts highlight Seagate’s potential to benefit from expanding AI infrastructure. This sale represents a significant shift in institutional sentiment toward the company.