Hard drives are experiencing a sharp price spike due to surging demand from AI and cloud computing firms, with Western Digital confirming it's sold out of drives through calendar 2026. The price of HDDs has surged 40% to 60% in recent months as companies lock in massive storage orders years in advance. This marks a dramatic turnaround for the aging technology, which was previously being phased out in favor of faster SSDs. 40% to 60% costlier in just months, the price surge stems from data centers and enterprises scrambling for cost-effective bulk storage solutions. calendar 2026.