15 AI News Updates That Broke The Internet

9. Pure Storage, Inc. (NYSE:PSTG)

Number of Hedge Fund Holders: 31

Pure Storage, Inc. (NYSE:PSTG) offers advanced data storage solutions that have the potential to support artificial intelligence workloads. On December 4, Piper Sandler upgraded Pure Storage (NYSE:PSTG) from Neutral to “Overweight” with a price target of $76, up from $56. The advisory told investors in a research note that the company’s fiscal Q3 results were better than expected given traditional sales, but lead metrics struggled.

However, its “significant” design win with a top-four cloud hyperscaler “removes risk and creates a catalyst for upside ahead”. The firm said that the “game changer” opportunity with the hyperscaler alone represents a $500M opportunity in 2026, with a potential for more hyperscalers coming in the future. Piper further said that flash storage is gaining momentum, particularly in the cloud and AI sectors. The company’s offerings are carving out a competitive edge here. “The narrative shifts to Cloud&AI over STaaS”, and that Pure Storage’s shift away from its Storage-as-a-Service (STaaS) transition has effectively eradicated a revenue headwind.