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Beamr, an Israeli startup that specializes in video and broadcasting solutions, experienced a significant surge in stock value on Monday after announcing a collaboration with chip giant Nvidia. The company’s shares jumped by over 1500% during trading before moderating to close with a gain of about 400%.

Founded and managed by Sharon Carmel, Beamr provides solutions for encoding, converting, and optimizing video that enable high quality, performance, and efficiency. Its clients include content distributors, internet broadcasting companies, streaming platforms, and Hollywood studios.

Beamr announced today its joint research with Nvidia on the transition to the AV1 format on a larger scale while maintaining quality. The study highlights the complexity of adopting the upgraded video standard due to the demand for more computing power and higher costs. However, Beamr’s technology with Nvidia meets both challenges by using Nvidia hardware to ensure similar or better performance at lower costs.

Tamar Shoham, Beamr’s CTO, explained that their technology with Nvidia enables them to overcome these challenges by providing high-quality video at a lower cost. This collaboration will help accelerate the adoption of AV1 as it eliminates the need for additional computing power or learning curve.

In 2023, Beamr recorded revenues of $1.4 million compared to $1.2 million in the corresponding period in 2022. The company expects to end 2023 with similar revenues as 2022 but expects growth to accelerate in 2024 as they continue their partnership with Nvidia to advance their technology in the field of video and broadcasting solutions.

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