February 23, 2024

Beamr (NASDAQ:BMR) teams up with NVIDIA to accelerate adoption of AV1

DENVER, Colo., Feb. 12, 2024 (www.247marketnews.com)- Beamr Imaging Ltd. (NASDAQ:BMR) stated, this morning, that it will present its joint research, with NVIDIA Corporation, relating to automated video modernization at the ACM Mile-High-Video 2024 conference, being held in Denver, Colorado from February 11-14, 2024.

It stated that AOMedia Video 1 (AV1) is an efficient emerging video format, which is backed by tech giants like Amazon, Google and Microsoft, but it’s facing slow adoption due to the highly complex and costly processes of upgrading existing video libraries in growing markets like artificial intelligence (AI), machine learning, streaming  and user-generated content. Today Beamr and NVIDIA are going to jointly present for the first time a proposed solution to this challenge, at the ACM Mile-High-Video 2024 conference.

BMR is trading at $3.57, up $1.46 (+69.19%), on 9.3M shares traded.       

Its 52-week range is $0.91 to 8.04. BMR is challenging trading levels it last reached in June.

Beamr CTO, Tamar Shoham, who will present the research at the conference, explained: “Until today, adopting the upgraded video standard was a complex transition for two reasons – one, the new standard requires significantly more compute power and therefore comes at a very high cost; and two, the new standard requires a steep learning curve as it is difficult to figure out how much added compression can be applied without sacrificing video quality, which results in a lot of uncertainty during the process,” said Tamar Shoham, Beamr CTO.

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