Beamr Shares Up Sixfold, Nvidia Shares Touch All-Time High
By Dean Seal
Shares of Beamr Imaging and Nvidia each touched all-time highs after the companies partnered to accelerate adoption of a new video standard, AV1.
Beamr's stock, which started trading about a year ago, touched an all-time high of $14.92 in early trading. That's up more than sixfold from $2.11, where it closed last week.
Nvidia's shares ticked up about 1.9% to an all-time high of $734.96. The stock is up 48% from where it started the year, and was trading at around $212.65 this time a year ago.
Israel-based Beamr said Monday morning that its new AOMedia Video 1 format, or AV1, is facing slow adoption due to the complex and costly processes of upgrading existing video libraries in growing markets.
Beamr and Nvidia plan to jointly present a solution to that challenge at the ACM Mile-High-Video 2024 conference this week, Beamr said. The companies will describe an automated process for transferring video libraries and repositories into AV1 and facilitating that process at scale.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 12, 2024 10:47 ET (15:47 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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