1 Small Cloud Stock Gearing Up for a New Round of Innovation -- Time to Buy?
Tiny cloud infrastructure provider DigitalOcean (NYSE: DOCN) closed out 2023 in a less-than-ideal fashion. Generative artificial intelligence infrastructure is starting to equate to a pickup in cloud computing spending among its tech titan peers, but not so much for DigitalOcean -- at least not yet.
You see, the company made an AI start-up purchase of its own last summer, and it has a new CEO at the helm. Is it too late to buy the stock?
DigitalOcean has made a name for itself providing affordable and easy-to-use "Droplets" -- a bit of computing power, operating in a data center, that a developer or start-up can use to operate a website or an app, store business data and run analytics, or perform some other digital work. That combination of easy and affordable has been palpable. DigitalOcean has built a loyal following of hundreds of thousands of customers, with an extensive library of content to help educate its users about all things cloud computing.
Source Fool.com
