NexOptic Technology Corp shares powered 25% higher to $0.075 Wednesday on volume of more than 1.4 million shares after the imaging AI company announced that it will be conducting a live demonstration via YouTube of its NexCompress proprietary AI for video compression next week.
NexOptic said NexCompress enables significant bandwidth reduction of videos while operating either on edge devices or in the cloud.
“Audiences will see NexCompress in action as it strips unnecessary 'noise' from sample videos in real-time, without the need for image processing after-the-fact,” NexOptic CEO Paul McKenzie said in a statement.
“People recognize the significant role AI-assisted video compression can play in reducing global pressure on internet bandwidth,” he added.
McKenzie also noted that AI-assisted video compression can translate to reductions in energy consumption and cost savings when applied to a variety of different video input scenarios and can be applied to many industries, including the colossal video streaming industry.
NexOptic's vice president of AI technologies Kevin Gordon will lead the demonstration while illustrating the novel data compression capabilities of NexCompress. It will be held on April 25, 2023, at 1:15pm PDT.
Contact Sean at sean@proactiveinvestors.com