Louis Miscioscia's questions to NetApp (NTAP) leadership • Q4 2025
Question
Louis Miscioscia of Daiwa Capital Markets America asked if a 'step function' of growth for storage could be anticipated in calendar 2026 as enterprise AI inference workloads begin to ramp up significantly.
Answer
CEO George Kurian agreed that the real business impact of AI will come from inferencing. He noted that enterprises are currently in the first phase of modernizing their data infrastructure to prepare for AI, a trend that is expanding. However, he stated that any 'step function' in growth is contingent on the business value customers derive from these AI use cases, the full extent of which is not yet clear, making it too early to predict such a sharp acceleration.