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Beamr Imaging (NASDAQ:BMR) stock is seeing massive gains on Thursday after Nvidia (NASDAQ:NVDA) highlighted the company in a recent presentation.
The big news today is Nvidia showcasing its new Video Codec SDK 12.1 release. This has it revealing how the new release works with Beamr Imaging’s Content Adaptive Bit Rate (CABR) library and the Nvidia Encoder (NVENC).
Nvidia includes the following statement in a news release discussing the new technology:
“Previously, CABR was suited to offline processing, but now, powered by NVIDIA GPUs, CABR-NVENC operates in real time, enhancing its application for optimizing live video creation services. This breakthrough technology empowers content creators and streaming platforms to achieve superior video compression and delivery performance while maintaining exceptional visual quality.”
BMR Stock Joins NVDA Rally
Outside of this, NVDA stock and related stocks have been seeing major rallies today. This follows the latest earnings report from the chipmaker. That’s due to an increase in demand for the company’s artificial intelligence (AI) chips.
In the case of BMR stock, shares are rocketing as some 37 million shares change hands. For the record, the company’s daily average trading volume is a small fraction of that at about 61,000 shares.
BMR stock is up 170.9% as of Thursday morning.
Investors seeking out even more of the most recent stock market news will want to keep reading!
We have all of the hottest stock market stories traders need to read about on Thursday! A few examples include why shares of DISH Network (NASDAQ:DISH), Nvidia (NASDAQ:NVDA) and Medtronic (NYSE:MDT) stock are on the move today. All of that news is ready to go at the links below!
More Thursday Stock Market News
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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