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DigitalOcean shares drop despite strong first quarter

  • DigitalOcean posted first-quarter results surpassing expectations but saw its shares drop by more than 13% in trading.
  • The drop in share price was attributed to the company's guidance for the next quarter, which fell short of analyst expectations.
  • Despite the drop in share price, DigitalOcean's revenue grew by 14% year-over-year in the first quarter to $211 million, with increased demand from AI developers and large customers.
  • The company introduced new features, including graphics card servers and platform enhancements, to support the growth in AI and large customer segments.

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