Fastly, Inc. (FSLY) stock soared 5.3% in the pre-market session on Wednesday, following the company's unveiling of a new product called Fastly AI Accelerator aimed at optimizing large language model (LLM) applications for generative AI.
The AI Accelerator is a semantic caching solution that allows developers to optimize their LLM generative AI applications with just a single line of code, instead of repeatedly calling the AI provider to update their application. This is expected to boost efficiency and adoption of Fastly's edge cloud platform among companies developing advanced AI solutions.
Analysts are optimistic about Fastly's prospects, projecting 7% revenue growth and over 100% earnings growth for the company in 2025. The stock is also seen as undervalued, with its price-to-sales and price-to-book ratios lower than industry averages.
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