Looks like it might be a drum memory rather than a disk, but the difference is mainly topological (and interesting for the parallels with the development of audio recording, starting with a cylindrical recording medium and evolving into a disk).

Interesting too that progress was slow compared to our modern expectations. It took another dozen years for 20 megabyte drives, about a quarter of the size of the monster in the photo (=16X improvement in information density). By the early 70s I worked on those things in a refurbishment depot, and 20 megs was still state of the art, but the effort at that time was to miniaturize the things down to lunch box size.

A month ago I built a new server (a real one, not a virtual cloud server), and thought nothing of slapping in three terabyte drives, at $70 each, and combining two in a mirror for backup. A terabyte's what, about 200,000 times the capacity of the thing in the photo? And I brought it home in a car, no cargo plane required.