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Fujifilm to increase magnetic tape production fivefold by 2028
Fujifilm will invest about $63 million to increase magnetic tape production capacity fivefold, citing surging data storage demands from artificial intelligence.
Fujifilm plans to increase its magnetic tape production capacity fivefold by fiscal 2028 with an investment of roughly $63 million at its Odawara plant near Tokyo, marking its largest tape production investment in about 20 years. The Japanese company attributes the surge in demand to artificial intelligence driving exponential growth in data storage needs. Magnetic tape remains commercially valuable because data centres, financial institutions and research organisations can store vast quantities of information offline at low cost, and keep backups disconnected from computer networks for security.
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Summary written by AI from these reports. See news.today/ai
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