DigitalOcean acquires Paperspace for $111M cash to expand AI/ML offerings

DigitalOcean Holdings, Inc.

Acquired Paperspace for $111M in cash; expected immaterial impact on 2023 results.
Reaffirmed Q2 revenue guidance; expects to exceed adjusted EBITDA margin and non-GAAP EPS guidance.
Stock repurchase: $370M used of $500M program; 10.57M shares repurchased at avg $35.00; 88.6M shares outstanding.
Paperspace provides GPU infrastructure for AI/ML, simplifying access for SMBs and startups.

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