Elastic NV (NYSE:ESTC) saw its stock surge by 8% during after-hours trading on Thursday, rising to $88.07 from its earlier close of $81.55.Check out the current price of ESTC stock here.The boost came after the company announced three major updates: it finalized the acquisition of Jina AI, rolled out a new GPU-powered inference service, and approved a $500 million stock buyback program.According to Benzinga Pro data, ESTC had declined 1.98% during regular trading hours.Jina AI Acquisition CompletedThe data ...

Oct 9, 2025 11:02 AM Eastern Daylight Time New service to provide GPU-accelerated embedding and retrieval models SAN FRANCISCO--(BUSINESS WIRE)--Elastic (NYSE: ESTC), the Search AI Company, today announced the Elastic Inference Service (EIS), a GPU-accelerated inference-as-a-service for Elasticsearch semantic search, vector search, and generative AI workflows. Every generative AI and vector search application relies on inference, and Elastic now delivers these capabilities natively as part of Elastic Cloud. ...

Core Insights - Elastic has completed the acquisition of Jina AI, enhancing its capabilities in retrieval, embeddings, and context engineering for agentic AI [1][2] - The acquisition positions Elastic as a leading Search AI Platform, emphasizing its commitment to open and accessible Search AI solutions [2][3] Group 1: Acquisition Details - The acquisition deepens Elastic's capabilities in vector search, retrieval-augmented generation (RAG), and context engineering [2] - Jina AI's technology adds dense vector, multilingual, and multimodal embeddings models, enhancing Elastic's ELSER model [3] - Advanced rerankers from Jina AI improve retrieval quality for visual and long-context multilingual documents [3] Group 2: Strategic Goals - The integration of Jina AI's models aims to enhance relevance for unstructured data, enabling developers to deliver higher-quality context to generative AI systems [3] - Elastic plans to continue Jina AI's practice of releasing models on Hugging Face and publishing academic research [4] - The models will be available through the Elastic Inference Service (EIS) on Elastic Cloud, allowing enterprise customers to utilize embeddings and rerankers alongside Elastic's vector database [4] Group 3: Leadership and Vision - The former CEO of Jina AI, Han Xiao, has joined Elastic as VP of AI, indicating a strategic alignment in advancing search foundation models [4] - Elastic's CEO, Ash Kulkarni, highlighted the importance of search in generative AI and the expanded capabilities brought by Jina AI [3]