Storage Stocks Surge 6% on AI·Cloud Alliance

NetApp Inc. (NASDAQ: NTAP), the U.S.-listed storage company, closed at $113.32 on the 20th (local time), up 6.11%.
Its market capitalization jumped to about $22.3 billion (approximately KRW 31 trillion), with a one-day gain of roughly $1.45 billion (around KRW 2 trillion).

Earlier this month, the stock stood out as a beneficiary of virtualization and hybrid cloud trends after NetApp announced a strategic partnership with hybrid multi-cloud provider Nutanix to integrate NetApp’s ONTAP-based intelligent data infrastructure with the Nutanix Cloud Platform.

In its fiscal 2026 third-quarter results, released in February, NetApp posted revenue of $1.71 billion and earnings per share of $2.12, beating market expectations and demonstrating strong growth in all-flash storage for AI and in cloud storage services—factors that have bolstered investor confidence.

Founded in 1992 and headquartered in San Jose, California, NetApp delivers unified storage, data services, and cloud operations solutions to enterprise customers worldwide.

Recently, the company has been leveraging its “intelligent data infrastructure” strategy and AI-optimized storage built on the NVIDIA AI Data Platform to capitalize on rising demand for enterprise AI and cloud solutions.