Beamr Imaging Stock Is Surging Today: What's Driving The Action?

6/12/24 9:30:07 AM ET

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Beamr Imaging Ltd (NASDAQ:BMR) shares are trading higher Wednesday after the company announced that its Beamr Cloud solution is now available in the Oracle Corp (NYSE:ORCL) Cloud Marketplace.

What To Know: After the market close on Tuesday, Beamr said its cloud solution achieved Powered by Expertise and announced its availability in Oracle’s Cloud Marketplace.

Powered by NVIDIA Corp (NASDAQ:NVDA), Beamr Cloud offers more value to Oracle Cloud Infrastructure (OCI) customers by delivering efficient, AI-ready video processing. The company said OCI combined with Nvidia L40S GPUs delivers powerful AI compute with advanced graphics and media acceleration.

“In the AI era, with the rapid growth in video usage and the necessity to analyze video data for insights extraction, data labeling, or monetization, Beamr offers a dual-efficiency solution with both high-quality and high-speed video compression and analysis, powered by Oracle Cloud and NVIDIA GPUs,” said Sharon Carmel, CEO of Beamr.

Beamr provides content adaptive video solutions. Customers will now have the ability to transform videos into the emerging AV1 video format, which Beamr believes is poised to enable modernization of large-scale video libraries in markets like AI, broadcasting, streaming and user-generated content.

See Also: Oracle Stock Is Moving Higher Wednesday: What’s Going On?

BMR Price Action: Beamr Imaging shares were up 32.5% at $5.85 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.

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