Pure Storage shares surged over 20 in premarket trading after announcing a contract with a “top four” AI hyperscaler and exceeding fiscal third-quarter estimates. The company raised its full-year outlook and issued strong fourth-quarter guidance. CEO Charles Giancarlo highlighted the groundbreaking deal, emphasizing its cost-effective, high-performance storage solutions that replace 90 of the hyperscaler's existing systems. Piper Sandler upgraded Pure Storage to overweight, and Wedbush raised its price target. Shares are already up 50 this year.