Another AI hot stock? Arista Networks nearly doubled last year!

Another AI stock is on the rise?

Overnight, the leading stock in data center network switches, Arista Networks, surged over 5%, with a stock price of $268.76.

Although the stock has only risen by 14% so far this year, in the not too distant 2023, it achieved a 94% increase, nearly doubling!

In early February this year, Goldman Sachs identified the stock as the third most crowded stock in AI stocks, with analyst Samik Chatterjee mentioning Arista's investments in artificial intelligence and data centers, suggesting that this could drive "years of accelerated growth."