Arista Networks Stock Jumps Toward Record as AI Networking Bets Heat Up
Arista Networks shares closed up 7.65% at $171.68 on Monday, leaving the networking-equipment maker about 4.5% below its 52-week high, as investors chased another pocket of the artificial-intelligence infrastructure trade. The stock’s move added roughly $15 billion in market value on the day, based on the closing price and shares outstanding shown in market data. The move mattered now because it came on a day when the broader tape was already leaning toward technology. The S&P 500 gained 0.43% and the Nasdaq Composite rose 0.69%, while Nvidia jumped 5.8% after unveiling a new AI-focused PC chip, Reuters reported.