Fastly Inc is a technology company that specializes in providing an advanced content delivery network (CDN) and edge cloud platform designed to help businesses enhance the performance and security of their digital content. By leveraging its infrastructure, Fastly enables real-time data processing and analytics, allowing companies to deliver faster and more reliable web experiences to their users. The company's services are particularly beneficial for enterprises needing to optimize their online applications and ensure seamless content delivery across various devices and locations, ultimately improving user engagement and satisfaction.
Fastly Inc. (NYSE: FSLY), a global leader in edge cloud platforms, today announced the general availability of Fastly AI Accelerator. A semantic caching solution created to address the critical performance and cost challenges faced by developers with Large Language Model (LLM) generative AI applications, Fastly AI Accelerator delivers an average of 9x faster response times.1 Initially released in beta with support for OpenAI ChatGPT, Fastly AI Accelerator is also now available with Microsoft Azure AI Foundry.
Stocks are a mixed bag this afternoon, with the S&P 500 Index and Nasdaq Composite earlier touching fresh record highs as the latter jumps triple digits.
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, today announced that on December 2, 2024, it entered into separate, privately negotiated subscription agreements pursuant to which Fastly will issue (the “Issuance”) $150.0 million aggregate principal amount of its 7.75% convertible senior notes due 2028 (the “2028 Notes”). Fastly estimates that the gross proceeds from the Issuance will be $150.0 million. Fastly intends to use $150.0 million of the gross proceeds from the Issuance to repurchase approximately $157.9 million aggregate principal amount of its existing 0.00% Convertible Senior Notes due 2026 (the “Existing Convertible Notes”). Additionally, on December 2, 2024, Fastly entered into separate, privately negotiated repurchase agreements with a limited number of holders of its Existing Convertible Notes to repurchase (the “Repurchases” and together with the Issuance, the “Transactions”) approximately $157.9 million aggregate principal amount of the Existing Convertible Notes for aggregate cash consideration of $150.0 million. The Transactions are expected to settle on or about December 5, 2024, subject to customary closing conditions.
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, has launched its latest annual Global Security Research Report, revealing a rise in the time it takes businesses to recover from cyber incidents. In 2024, businesses reported taking an average of 7.3 months to recover from cybersecurity breaches - 25% longer than expected and over a month past the anticipated timeline of 5.9 months.
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, today announced it has been named a Leader in the IDC MarketScape: Worldwide Edge Delivery Services 2024 Vendor Assessment (doc #S51812424, November 2024). This is the second time Fastly has been named a Leader in an IDC MarketScape report1.
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, today announced that management will be participating in fireside chats at the following investor conferences:
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, today announced the general availability of Fastly DDoS Protection to provide automatic protection from Layer 7 and other application-level DDoS attacks. With a click of a button, organizations can enable Fastly DDoS Protection to automatically shield their applications and APIs against highly disruptive data and query floods. Fastly’s DDoS Protection leverages the powerful, proven techniques behind protecting Fastly’s global network from massive DDoS attacks to offer a tailored protection product directly to customers.
Fastly, Inc. (NYSE: FSLY), a leader in global edge cloud platforms, will release financial results for the third quarter of 2024 after market close on Wednesday, November 6, 2024. Fastly will host an investor conference call that day to discuss its results at 1:30 p.m. PT / 4:30 p.m. ET.
The Fed cut rates by 0.5%, making it easier for small- to medium-sized cloud computing companies to refinance debt. Analyst suggests 5 firms may benefit.
