Complete List of All AI Companies Under $2 Billion Market Cap

5. Fastly, Inc. (NYSE:FSLY)

Market Capitalization: $1.334 Billion

Number of Hedge Fund Holders: 14

Fastly, Inc. (NYSE:FSLY) provides an edge cloud platform that processes, delivers, and secures applications globally, including in the U.S., Asia Pacific, and Europe. The platform supports developers in building and delivering digital experiences at the edge of the internet. Fastly offers services like network optimization, geolocation, content delivery, live streaming, and video on demand. Its security solutions include DDoS protection, bot management, API security, and advanced TLS options.

In December 2024, Fastly (NYSE:FSLY) launched the Fastly AI Accelerator, a semantic caching solution designed to improve the performance and reduce costs of Large Language Model (LLM) generative AI applications. The solution, now generally available, delivers up to 9x faster response times and supports platforms like OpenAI ChatGPT and Microsoft Azure AI Foundry. Developers can integrate it by updating a single API endpoint, enabling cached responses for repeated queries instead of returning to the AI provider for each call.

At the beginning of the year, RBC Capital increased Fastly’s price target from $7 to $10 while maintaining a Sector Perform rating in its 2025 software sector outlook. The firm expects another strong year for software due to stabilized spending trends, potential innovations from generative AI, and favorable comparisons in early 2025 as companies focus on growth.