Arista Networks, Inc. Stock News

Artificial intelligence made headlines in 2024, with stocks in the space appreciating tremendously. Amid the growing adoption of technology, many companies are shelling out billions to advance their AI capabilities.

SANTA CLARA, Calif.--(BUSINESS WIRE)--Arista Networks (NYSE:ANET) announced today that Alabama Fiber Network (AFN), a consortium of eight electric cooperatives, has selected Arista as its provider of routing and switching equipment for its robust middle-mile network project. This initiative delivers affordable, high-capacity and reliable internet access to last-mile providers and large enterpri...

High-growth cloud computing stocks have been all the rage in recent years, with pure-play cloud companies posting jaw-dropping growth numbers. However, the recent selloff we're seeing in certain tech segments, and the global pressure that's been building for equity markets, are providing a harsh reality check for investors.

Arista Networks (ANET) shares finished Wednesday up 11% after the cloud networking giant reported better-than-expected earnings and raised its outlook.

Arista Networks, Inc. upgraded to “Strong Buy” in my previous article published in March 2024. The company beats market expectations with mid-teen revenue growth driven by data center and AI investments. Expansion into Etherlink AI and security networks is crucial for future growth, despite competition risks from Nvidia's InfiniBand.

On July 24, the stock market showed its first signs of instability this year. The Nasdaq composite dipped 3.6% in one day due to a broad selloff of the tech industry.

Arista Networks' networking technology is proving invaluable to AI data centers. Artificial intelligence-related revenue, in fact, is the chief reason this company was able to top its Q2 estimates.

According to Goldman Sachs, investors are bullish on artificial intelligence in the long term, with over $1 trillion in spending projected by tech and utility firms. BlackRock researchers compared AI's impact to the Industrial Revolution.