Pure Storage shares rise 10.02% intraday as institutional investors buy call options amid hyperscaler AI deals.

Pure Storage (PSTG) surged 10.02% intraday following multiple catalysts. The stock’s rally coincided with reports of institutional investors aggressively buying call options and securing hyperscaler deals for its energy-efficient AI technology. Analyst upgrades, including Oppenheimer’s “Outperform” initiation and JPMorgan’s $110 price target hike, reinforced optimism. Institutional buying by firms like EFG Asset Management, Intech Investment Management, and Morgan Stanley further signaled confidence in the company’s strategic momentum. Recent earnings highlights underscored Pure Storage’s 74.1% gross margin and a 29.3% undervaluation, aligning with the stock’s strong intraday performance as market participants anticipated positive financial disclosures and long-term growth potential.