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 ...

Read the blog to find out more. Oct 9, 2025 9:02 AM Eastern Daylight Time Acquisition advances Elastic's leadership in retrieval, embeddings, and context engineering to power agentic AI SAN FRANCISCO--(BUSINESS WIRE)--Elastic (NYSE: ESTC), the Search AI Company, has completed the acquisition of Jina AI, a pioneer in open source multimodal and multilingual embeddings, reranker, and small language models. The acquisition deepens Elastic's capabilities in vector search, retrieval-augmented generation (RAG), an ...