Shares of NexOptic Technology Corp climbed 25% to $0.075 on Wednesday to 1.4 million shares after the image-processing AI company announced next week it will conduct a live demonstration via YouTube of NexCompress’s proprietary AI for video compression. exceeded.
According to NexOptic, NexCompress can significantly reduce video bandwidth when running on edge devices or in the cloud.
NexOptic CEO Paul McKenzie said in a statement:
“People are recognizing the important role that AI-assisted video compression can play in alleviating global pressure on internet bandwidth,” he added.
McKenzie also said that AI-assisted video compression, when applied to a variety of different video input scenarios, can lead to reduced energy consumption and cost savings, and can be applied to many industries, including the huge video streaming industry.
NexOptic’s VP of AI Technologies, Kevin Gordon, will lead the demonstration and explain the new data compression capabilities of NexCompress. It will take place on April 25, 2023 at 1:15 PM PDT.
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