Nvidia’s Impact: Israeli Company Soars 400% on Wall Street

Beamr, an Israeli company founded and managed by Sharon Carmel, experienced a significant surge in its stock value during trading on Monday. The company’s stock jumped by about 1500% after reporting a collaboration with chip giant Nvidia. Beamr was issued a year ago when it raised $7.8 million at a value of approximately $48 million.

Beamr provides solutions in the fields of video and broadcasting, including encoding, converting, and optimizing video for high quality, performance, and efficiency. The company’s clients include content distributors, internet broadcasting companies, streaming platforms, and Hollywood studios.

Today’s announcement revealed that Beamr is collaborating with Nvidia to facilitate the transition to the AV1 format on a larger scale while maintaining quality. The study presented by Beamr highlights how most videos today are still based on a 20-year-old format (AVC / H.264) that existed even before smartphones and high-speed internet. The collaboration between Beamr and Nvidia aims to make this transition more accessible while keeping costs similar to previous formats.

Tamar Shoham, Beamr’s CTO, explained how the adoption of the upgraded video standard was previously a complex transition due to two reasons: firstly, the demand for much more computing power and higher costs; secondly, the need for a sharp learning curve because it was difficult to determine how much additional compression could be implemented without sacrificing video quality. However, Beamr’s technology with Nvidia addresses both challenges by utilizing Nvidia hardware to maintain or improve performance while keeping costs similar to previous formats.

In terms of financial performance, Beamr recorded revenues of $1.4 million in the first three quarters of 2023 compared to $1.2 million in the corresponding period in 2022. While the company expects 2023 to end with a similar level of revenues as 2022, they anticipate growth will accelerate in 2024 as revenues continue to expand as part of their ongoing collaboration with Nvidia.

By Editor

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