Pure Storage Cashes In On Meta Partnership, CFO Hypes 'Hyperscaler Interest'

Pure Storage Inc (NYSE:PSTG) stock surged more than 30% on Thursday, setting up for a record close, after the data storage firm delivered stronger-than-expected quarterly results and raised its full-year outlook.

A major factor behind the rally was excitement on Wall Street about the company's growing partnership with Meta Platforms, Inc. (NASDAQ:META), according to CNBC.

In March, Pure signed a deal to become Meta's primary storage provider. Pure confirmed on its earnings call Wednesday that it began recognizing revenue from the Meta deployments during its second quarter.

The company had anticipated rolling out 1–2 exabytes for Meta by the end of the fiscal year and now ...