13 AI News That Broke the Internet

8. Arista Networks Inc (NYSE:ANET)

Number of Hedge Fund Holders: 70

Arista Networks Inc (NYSE:ANET) develops and sells data-driven networking solutions, including AI-powered Ethernet switching platforms for data centers, campuses, and routing environments.

At Raymond James 2024, TMT & Consumer Conference Call, Arista executives (NYSE:ANET) Chantelle Breithaupt (CFO) and Ashwin Kohli (Chief Customer Officer) discussed the company’s outlook for 2025. Arista projects a 15% to 17% revenue growth, driven primarily by cloud and AI sectors. They emphasized the importance of maintaining growth across multiple verticals, including traditional data centers and cloud service providers while expanding into enterprise and campus markets.

Chantelle Breithaupt said:

“So if you look at Arista’s guide going into next year, the 15% to 17% revenue guide that you mentioned. That is — that scenario is based on what we anticipate to be more of a mix in cloud and AI, cloud AI is how we’re mentioning it. And so we’re very excited about the opportunity as we go into 2025. But we are very excited about all pieces of the company, enterprise, data center, enterprise campus, Tier 2 cloud service provider, et cetera. So we’re excited about the whole book of business. But going into 2025, our planned scenario for that guide is cloud and hyperscaler AI-oriented.”