In a groundbreaking move set to reshape the landscape of video optimization, Beamr Imaging Ltd’s stock surged in trading today following a monumental announcement at the ACM Mile-High-Video 2024 conference. The company revealed its collaborative research initiative with tech powerhouse NVIDIA Corporation aimed at automating video modernization processes.
The stock of Beamr Imaging catapulted as it opened trading at an astonishing $6.07, a remarkable surge from its previous close of $2.11 on Friday. This surge underscores the market’s enthusiastic response to the innovative strides being made in video optimization technology.
At the time of this publication, Canoo Inc stock (BMR) has witnessed a surge.
Beamr Imaging Ltd
Current Price: $11.78
Change : +9.67
Change (%): (458.29%)
Volume: 144.0M
Source: Tomorrow Events Market Data
Backed by industry giants including Amazon, Google, and Microsoft, the emergence of AOMedia Video 1 (AV1) signals a significant advancement in video formats. However, its widespread adoption has been hindered by the intricate and costly procedures required to upgrade existing video libraries, particularly in burgeoning sectors such as artificial intelligence, machine learning, streaming, and user-generated content.
Today’s joint presentation by Beamr and NVIDIA marks a pivotal moment in addressing this challenge head-on. For the first time, the companies are unveiling a proposed solution at the ACM Mile-High-Video 2024 conference, showcasing their collaborative efforts to streamline the transition to AV1 adoption on a large scale.
The research presented underscores the pivotal role of automation in facilitating this transition seamlessly. Beamr and NVIDIA are set to unveil an automated process designed to migrate video libraries and repositories to the emerging AV1 format while ensuring optimal video quality and bitrate utilization, leveraging NVIDIA’s hardware prowess.
Tamar Shoham, Beamr’s Chief Technology Officer, emphasized the significance of this development, stating, “Until today, adopting the upgraded video standard posed significant challenges, both in terms of computational requirements and the learning curve associated with optimizing video quality. Our collaboration with NVIDIA addresses these challenges head-on, offering unparalleled performance and cost-effectiveness.”
Shoham further elucidated, “By harnessing NVIDIA’s hardware-accelerated AV1 encoding capabilities and our proprietary automation technology, we’re revolutionizing the process of format modernization, ensuring a seamless transition without compromising quality.”
At the heart of Beamr’s pioneering technology lies Content-Adaptive-Bitrate, a culmination of over a decade of research and development backed by 53 patents. This innovation promises to redefine the landscape of video optimization, making it more accessible and affordable for businesses across various industries.
The ACM Mile-High-Video conference serves as a premier platform for industry professionals and researchers to delve into cutting-edge advancements in video compression and streaming. Organized by leading experts from both academia and industry, this annual event showcases the latest innovations shaping the future of media technologies.
Looking ahead, Beamr is poised to launch its highly anticipated video cloud service on Amazon’s AWS platform, powered by NVIDIA, on February 20, 2024. This milestone event promises to revolutionize video processing, offering unprecedented accessibility and affordability to users worldwide.
