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Pure Storage
shares jumped over 30% on Thursday and headed for a record close after the data storage management vendor reported quarterly results that topped estimates and lifted its guidance for the year.
Wall Street was particularly enthused about the early success of the company’s deal with Meta
In March, Pure announced it had secured an agreement with Meta to be the social media company’s “key storage provider.” That came three months after Pure teased a new contract with an unnamed “top four” AI hyperscaler. The deal was viewed as a huge win for Pure, as internet giants search for ways to meet their burgeoning storage needs due to artificial intelligence with greater cost and energy efficiency.
