Datadog's results fueled shares of other cloud infrastructure names like Snowflake and MongoDB.
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Datadog
surged 31% on Thursday after reporting blockbuster earnings and lifting its guidance for the year, showing how some software names are starting to prove their case as winners in artificial intelligence.
Quarterly revenue topped one billion dollars for the first time.
The pop fueled rallies in shares of Snowflake
MongoDB, Pure Storage and Snowflake all touted artificial intelligence in earnings reports this week.
MongoDB said its Atlas platform grew 30% from a year ago as it benefits from AI tailwinds
The company said it added more than 5,000 customers year to date, "the highest ever in the first half of the year."
MongoDB reported third quarter earnings after the bell that beat analyst estimates.
Topping expectations in at least one key performance indicator could drive up shares of Datadog, Draftkings and others, according…
The firm called out a slew of buy-rated software stocks, including Snowflake and MongoDB, as the sector slides.
