Cineverse (NASDAQ: CNVS) stock skyrocketed on Wednesday following its collaboration with Google to introduce an AI-powered search and discovery tool tailored for film and television content.
Cineverse (CNVS) announced the integration of Google Cloud’s Vertex AI Search to develop its cineSearch technology, an artificial intelligence (AI) search bot aimed at revolutionizing how viewers navigate through vast content libraries.
The company plans to debut a beta version of cineSearch on its platform in spring 2024, with plans for subsequent integration into third-party streaming services.
Tony Huidor, currently serving as both the Chief Technology Officer and Chief Operating Officer at Cineverse, recently discussed the difficulties encountered by streaming service users. He identified that the most urgent problem they face is the effectiveness of search and discovery.
Huidor stated that the initial development of cineSearch aimed to solve this problem. He also disclosed that the significant enhancement of this feature exceeded their initial expectations, thanks to the application of Google Cloud’s Vertex AI platform.
Cineverse (NASDAQ: CNVS) Stock Movement
CNVS stock soared 51.61% to close at $2.35 on Wednesday. The traders had exchanged hands with 32,723,603 (32.72 million) shares compared to the average daily trading volume of 75.73K. The market capitalization of CNVS stock currently stands at $30.22 million.
