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The stock market hit fresh highs as crude oil prices tumbled below $100 on Iran hopes. Earnings were mostly strong, though there were big losers too
The cloud monitoring company's revenue crossed $1 billion for the first time, driven by new customers at major AI research labs
AI and cloud demand fuel major growth
Datadog lifted its full-year revenue forecast to $4.3 billion to $4.34 billion, above Wall Street's $4.09 billion estimate.
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Snowflake stock rallied on Thursday, boosted by an upbeat report from Datadog which underlined demand powered by AI.
Datadog stock is leading software stocks higher after the enterprise tech players reported results ahead of expectations.
Cloud security firm Datadog on Thursday raised its annual forecast after beating Wall Street expectations for first-quarter results, fueled by high demand for its cloud security products amid rising artificial intelligence adoption. The company's shares were up nearly 36% in early trading. The demand for Datadog's monitoring and security tools have been on a rise due to increase in generative AI and cloud migration.