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Datadog shares jumped 20% on Thursday after the software company reported third-quarter revenue that topped Wall Street estimates and issued a strong forecast for the fourth quarter.

The company reported revenue of $885.7 million, which was up 28% year over year, and topped the $852.8 million expected by LSEG analysts.

The cloud software company expects fourth quarter revenue to reach between $912 million and $916 million, far surpassing Wall Street's projections of $887 million.

As artificial intelligence-driven demand for cloud-security products has continued to increase, Datadog has been rolling out multiple AI technologies and security tools over the past year.

"The Datadog R&D team is innovating ra

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