Pure Storage shares surge 9.15% intraday as institutional investors buy call options amid hyperscaler deals for energy-efficient AI tech.

Pure Storage (PSTG) surged 9.15% intraday as institutional investors aggressively purchased call options linked to the company’s energy-efficient AI technology securing hyperscaler deals. This strategic business development, highlighted in recent news, signaled strong demand for Pure Storage’s solutions in the AI sector, driving immediate bullish sentiment. While a technical indicator (MA10/MA20 death cross) suggested potential bearish momentum, the stock’s sharp intraday rise was primarily attributed to the positive institutional activity and market confidence in the company’s growth prospects. Analyst upgrades and price target increases further reinforced optimism, aligning with the upward movement.