ServiceTitan Inc. saw its shares surge 42% in its stock market debut, raising approximately $625 million through its IPO, which valued the company at $6.3 billion. The Glendale-based software maker, catering to trade businesses, sold 8.8 million shares at $71 each, exceeding its initial price target. With a revenue increase of 24% year-over-year, ServiceTitan aims to leverage IPO proceeds for strategic initiatives, including stock buybacks and further acquisitions.
Dell Technologies reported fiscal third-quarter earnings that exceeded expectations for earnings per share but fell short on revenue, leading to a 10% drop in shares after hours. The company forecasted fourth-quarter revenue between $24 billion and $25 billion, below analyst expectations, despite a 34% revenue increase in its Infrastructure Solutions Group driven by AI sales. Demand for AI systems remains strong, with a $4.5 billion pipeline of future orders, as customers await Nvidia's next-generation Blackwell chips.
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