On Thursday, Elastic (NYSE:ESTC) announced the completion of its acquisition of Keep Alerting Ltd. Keep is an open-source AIOps company that specializes in unifying alerts and automating incident remediation to improve operational efficiency and service reliability for users.Elastic (ESTC) Acquires AIOps Company Keep to Bolster AI-Powered Workflow Automation

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This acquisition aims to integrate Keep's AIOps and workflow automation capabilities with Elastic's existing AI/ML and AI Assistant solutions.

Ken Exner, Chief Product Officer at Elastic, stated that this merger will enable the delivery of AI-powered workflow automation across Elastic's Observability, Security, and Search solutions. From a financial and market perspective, this acquisition will strengthen Elastic's AI capabilities and increase its market share in the AI-driven observability and security sectors. Elastic (NYSE:ESTC) is a search AI company. It provides its Search AI Platform to thousands of companies, which include over 50% of the Fortune 500.

While we acknowledge the potential of ESTC to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ESTC and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.

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