Pure Storage shares are trading lower after Meta announced two 24k GPU clusters, which analysts said is being seen as negative for the company.
Portfolio Pulse from Benzinga Newsdesk
Pure Storage shares are trading lower following Meta's announcement of two 24k GPU clusters, which analysts interpret as a negative development for Pure Storage.
March 12, 2024 | 7:00 pm
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NEGATIVE IMPACT
Pure Storage's stock price is experiencing a downturn due to Meta's announcement of two 24k GPU clusters, perceived negatively by analysts.
The announcement by Meta of two 24k GPU clusters is seen as a technological advancement that could potentially reduce the demand for Pure Storage's products or services. Analysts' negative perception of this development suggests a potential decrease in Pure Storage's market share or revenue, leading to the downturn in PSTG's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90