Israeli software company Beamr Imaging’s stock, ticker symbol BMR, surged by 32% overnight following a mention from tech giant Oracle, ticker symbol ORCL. Oracle announced that Beamr’s software is now available on its cloud marketplace, providing customers with easy access to the technology.
Beamr’s software is designed to reduce the size of imaging files by half, allowing companies to store more video in the cloud and transfer files quickly. Additionally, the software enables the addition of artificial intelligence features without sacrificing performance. Beamr’s software suite is supported by Nvidia hardware and ray tracing software, facilitating the swift conversion of images and videos to the AV1 standard from AVC/H.264.
While Beamr offers video optimization services for as little as 25 cents per gigabyte or 20 cents per subscription, the costs can escalate with higher workloads. Oracle, which has made significant investments to catch up in the cloud market, reported record earnings in the last quarter, driven by cloud infrastructure and AI deals.
With Oracle’s strong performance, its stock has risen by 19% in 2024 and surged by 132% since mid-2019. Founder Larry Ellison’s fortune has also seen a substantial increase, reaching $153 billion and placing him fifth on the Forbes 400 list.
Many small Israeli technology companies have been acquired by larger firms after going public, and Beamr could potentially follow suit, especially given its compatibility with Oracle’s Cerner unit’s medical software.
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Dana Blankenhorn, a veteran financial and technology journalist, has been writing since 1978. He is the author of “Technology’s Big Bang: Yesterday, Today and Tomorrow with Moore’s Law.” Connect with him on social media or subscribe to his newsletter for more insights.