35 AI News You Should Not Miss

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22. Arista Networks, Inc. (NYSE:ANET)

Number of Hedge Fund Holders: 65

Arista Networks, Inc. (NYSE:ANET) engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments. Citi raised the price target on the stock to $460 from $385 and kept a Buy rating on the shares. The advisory raised its 2024 growth outlook for the Big Four cloud data center capex from 40% to 50% year-over-year, based on the strength of first half of the year data center spend and positive company commentary and guidance. Citi expects data center capex for the big cloud providers to grow by 40% in 2025 due to continued artificial intelligence demand and ongoing investment in data center infrastructure buildout.

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