15 AI News Investors Shouldn’t Miss

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7. Elastic N.V. (NYSE:ESTC)

Number of Hedge Fund Holders: 47

Elastic N.V. (NYSE:ESTC) is a search AI company offering cloud-based solutions that enable users to bring in all kinds of unstructured data and make it searchable. On December 2nd, the company announced the general availability of Elastic Cloud Serverless, the fastest method to start and scale security, observability, and search hassle-free. The Elastic Cloud Serverless is powered by a re-architectured Elasticsearch, built on an industry-first Search AI Lake optimized for real-time applications. The solution enables users to perform high-performance tasks such as AI-powered search, threat detection, and data retrieval.

“With our fully managed Elastic Cloud Serverless, we’re helping customers save more, scale fast, and search faster. By removing operational overhead, developers can rapidly build AI-powered search applications without concern for latency or scalability. Our Search AI Lake inherently supports dense vectors and features such as hybrid search, faceted search, and relevance ranking, which are especially vital for applications like GenAI and RAG”.

-Ken Exner, chief product officer at Elastic.

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