Pure Storage shares surged over 20% in premarket trading after announcing a contract with a “top four” AI hyperscaler and exceeding fiscal third-quarter estimates. The company raised its full-year outlook and issued strong fourth-quarter guidance. CEO Charles Giancarlo highlighted the groundbreaking deal, emphasizing its cost-effective, high-performance storage solutions that replace 90% of the hyperscaler's existing systems. Piper Sandler upgraded Pure Storage to overweight, and Wedbush raised its price target. Shares are already up 50% this year.
