creative software company Adobe (ADBE) expands its recently announced generative artificial intelligence product to include video and audio applications. ADBE stock rose on news of its generative AI efforts.
X
On Monday, the San Jose, Calif.-based company announced an extension to the Adobe Firefly family of generative AI models. This new product enables creative professionals to produce and dramatically enhance video and audio content while streamlining their workflow.
Adobe introduced Firefly and its first set of software tools at its Summit conference on March 21st. These tools focused on creating images from text prompts. Meanwhile, his ADBE stock rose 3.1% following the news.
Adobe’s latest Firefly tool for Creative Cloud enables creators to automatically generate hundreds of content variations needed for film and television productions. Adobe has also designed the AI content it generates to be safe for commercial use.
Speed up production with Adobe AI tools
Firefly’s video and audio tools allow production teams to test different video colors, theme music, sound effects, placeholder footage and animated text effects. Additionally, the tool reduces pre- and post-production time from days to minutes.
For example, creators can use text prompts to change the color scheme, time of day, or season of an already recorded video. An example text-to-video prompt looks like this:
The Firefly video application will be available later this year.
ADBE stock-in-cup base
On the stock market today, ADBE’s share price fell 0.4% to 377.92.
According to the IBD MarketSmith chart, ADBE shares are forming a cup base with a buy point of 451.25. Also, according to IBD Stock Checkup, his IBD Composite Rating for Adobe stock is 97 out of 99.
IBD’s Composite Rating combines five unique ratings into one easy-to-use rating. In addition, the best growth stocks have an overall rating of 90 or higher.
Additionally, ADBE’s shares are included in the IBD Tech Leaders list.
Follow Patrick Saitz on Twitter. @IBD_PSeitz For more articles on consumer technology, software and semiconductor stocks, please visit here.
You may also like:
This top-performing small-cap has the attention of Wall Street
Apple’s Mixed-Reality Headset Faces Lots of Skepticism Ahead of Its Debut
Chipmaker Allegro MicroSystems Drives Growth in Automotive and Industrial Business
See stocks on leader’s list close to buy point
Find Winning Stocks with MarketSmith Pattern Recognition and Custom Screens
