Why Shares of AI Data Software Company Confluent Are Soaring on Monday

Key Takeaways Shares of Confluent (CFLT) surged Monday morning after IBM (IBM) announced a deal to acquire the software maker for $31 per share, valuing Confluent at $11 billion. Confluent's software helps companies manage and organize large amounts of data, an in-demand service as many companies are looking to manage massive data sets that are used in the training and running of artificial intelligence models. IBM said that Confluent "excels at preparing data for AI, keeping it clean and connected across s ...