Posted 1/13/2024, 12:17:00 PM
DigitalOcean Stock Plunges Despite Jump into AI Market with Paperspace Buy
- DigitalOcean stock is down 71% from its all-time high despite entering the hot AI market in 2023
- DigitalOcean acquired Paperspace to provide AI capabilities tailored for small and medium businesses
- Paperspace's AI solutions are up to 70% cheaper than giants like Microsoft Azure
- DigitalOcean focuses on startups, hoping they scale operations and drive revenue growth
- At current valuations, DigitalOcean stock presents an opportunity for significant gains as its AI business takes off