DigitalOcean Rises on $111m Paperspace Deal to Boost AI (2)

(Updates with Barclays comment, share move)

DigitalOcean Holdings Inc. rose as much as 3.2%, the most intraday in nearly a week, after buying Paperspace, a cloud infrastructure provider, for $111 million. The deal allows small- and medium-sized businesses and startups to build and scale artificial intelligence and machine learning applications “in ways that have predominantly been the domain of large enterprises,” according to a statement.

• “To us, this should be viewed favorably by investors,” Barclays analyst Raimo Lenschow wrote of the deal
  • Says reiterated guidance for the second quarter “shows that macro isn’t worsening,” which “gives us more confidence ...