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The cloud computing and artificial intelligence (AI) space is rapidly evolving. Many new entrants are attempting to make a mark, while battling the fierce competition already in the market. Few can match up to the success of cloud giants such as Amazon (AMZN), Microsoft (MSFT), and Alphabet (GOOGL), which together account for 66% of the cloud computing market.
However, relatively small player DigitalOcean Holdings (DOCN) has caught attention with its outstanding revenue and earnings growth, as well as strategic investments in AI and machine learning (ML). Last week, the company announced another strong quarter.