Everpure Inc
Information Technology · Technology Hardware, Storage & Peripherals
Structural read: AI training and inference are storage-bound at the cluster level - checkpointing, dataset staging, and vector retrieval all need parallel flash bandwidth that legacy HDD-backed NAS cannot deliver. Pure is the only all-flash pure-play public name with a confirmed hyperscaler design win ($META FlashBlade in the AI Research SuperCluster) and a multi-EB hyperscaler deal announced FY25 for DirectFlash Modules replacing HDDs in nearline tiers.
- Meta AI Research SuperCluster uses FlashBlade as the official AI training storage tier
- Hyperscaler DFM design win announced FY25 - first vendor to crack the HDD-replacement TAM at scale
- Evergreen//One subscription >40% of new sales; TCV-style backlog smooths cyclicality
- Operating margin expansion as STaaS mix lifts gross margin into the low-70s
- $NVDA-certified storage for DGX SuperPOD reference architectures
- $NTAP, $DELL PowerStore, $HPE Alletra all field competitive all-flash; commoditization risk
- Hyperscalers historically build their own storage; one design win is not a recurring revenue stream
- NAND pricing cycle drives gross margin volatility independent of execution
- Enterprise IT spending sensitivity in a higher-for-longer rate environment
No major news in the last 7 days for PSTG - only listicles and opinion pieces, which we filter out by default. See everything anyway.
No key levels recorded for this ticker.