Arista Networks (NYSE: ANET) delivered a blowout Q2 2025, posting $2.205 billion in revenue and crossing $1 billion in non-GAAP operating income for the first time. With 30.4% year-over-year growth and a commanding presence in AI-driven cloud networking, Arista is clearly outpacing expectations. Their tight integration with hyperscalers like Microsoft, Meta, and AWS—combined with industry-leading gross margins (64%) and zero debt—reinforces Arista’s status as a top-tier AI infrastructure play. As the race for AI scalability accelerates, Arista’s high-speed switching technology and flagship EOS software offer unmatched performance. Is ANET stock still a buy after the earnings pop? Our deep-dive analysis breaks it down.