What's Going On With DigitalOcean Stock Today?
Portfolio Pulse from Ryan Gustafson
DigitalOcean Holdings, Inc. (NYSE:DOCN) has acquired PaperSpace for $111 million in cash. This acquisition will allow DigitalOcean customers to leverage GPUs alongside their CPU workloads, particularly for AI/ML applications. The company's shares were up 11.6% at $44.39 at the time of publication.
July 06, 2023 | 7:54 pm
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POSITIVE IMPACT
DigitalOcean's acquisition of PaperSpace for $111 million is expected to enhance its cloud services and AI/ML offerings. This news has positively impacted the company's stock price.
The acquisition of PaperSpace is a strategic move for DigitalOcean, as it expands its cloud services and AI/ML offerings. This is likely to attract more customers and increase revenue, which is positive for the company's stock. The news has already resulted in an 11.6% increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100