Beamr Imaging Ltd. sees a monumental increase in stock price after announcing their collaboration with Nvidia Corp. for video modernization. The partnership aims to revolutionize the transfer of video libraries and repositories using cutting-edge tec...
Shares of Beamr Imaging Ltd. experienced a monumental increase in value on Monday, following an announcement that highlighted their connection with chip giant Nvidia Corp.
The stock, with the ticker symbol BMR, saw a remarkable surge of 1,556% at its peak during midday trading, reaching an all-time high of $34.94. Although the stock pulled back slightly, it still managed to maintain an impressive 683.9% increase for the day. The surge in trading volume was equally impressive, reaching 141.1 million shares, a stark contrast to the daily average of 268,000 shares over the past month.
Beamr Imaging Ltd. claimed the coveted title of being the largest percentage gainer and the most actively traded stock on major U.S. exchanges. Due to the extreme price fluctuations, trading had been temporarily halted on four separate occasions since the market opened at 9:30 a.m. Eastern time.
This Israel-based company, which recently went public on February 28, 2023, has revealed plans to present their collaborative research with leading semiconductor manufacturer Nvidia (NVDA) at the upcoming ACM Mile-High-Video 2024 conference in Denver, which will continue until Wednesday.
During this conference, Beamr Imaging Ltd. intends to highlight their joint efforts with Nvidia in automating video modernization. They emphasize that most videos are currently based on an outdated format known as AVC/H.264, which has been in use for the past 20 years. By partnering with Nvidia, this research aims to facilitate a smooth transition to the AOMedia Video 1 (AV1) format, thereby providing better and more advanced video technology.
It is evident that Beamr Imaging Ltd.'s association with Nvidia has played a significant role in catapulting their stock to unprecedented heights. Investors and tech enthusiasts alike eagerly await the outcomes of this groundbreaking partnership.
Beamr and Nvidia have come together to revolutionize the transfer of video libraries and repositories into the emerging format. This groundbreaking process ensures the preservation of video quality while optimizing bitrate, utilizing Nvidia's cutting-edge hardware.
While investors may be thrilled about the partnership with Nvidia, an industry leader in both semiconductors and artificial intelligence, it's important to note that this news is not new. In their IPO filing last year, Beamr had already revealed their collaboration with Nvidia to develop the first GPU-accelerated encoding solution. This solution promises fast and easy deployment, coupled with superior video-compression rates.
Nvidia's stock has been on a remarkable upward trajectory, securing its position as the hottest stock in the S&P 500 index SPX. In 2023, it tripled in value, experiencing a staggering 2024 gain of 46.5%. In comparison, it led the S&P 500 with an astounding 238.9% increase in 2023.
On the other hand, Beamr's stock performance has been more turbulent. It closed at $2.11 on Friday, markedly lower than its initial public offering price of $4. However, the recent rally in 2024 has seen a promising increase of 45.5%.
In conclusion, the collaboration between Beamr and Nvidia has the potential to reshape the video transfer landscape. As both companies continue to thrive and innovate, investors will undoubtedly keep a close eye on their progress.
All Rights Reserved © 2024
Leave Comment