Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has announced a substantial increase in demand from its largest customer, Amazon, resulting in $2.2 million in additional revenue from new 3D model orders.
The surge in demand is attributed to Nextech3D.ai's groundbreaking generative AI technology, which has driven significant productivity enhancements. As a result, the company's profit margins have expanded significantly, bringing it closer to achieving positive cash flow.
Evan Gappelberg, CEO of Nextech3D.ai, expressed his excitement about the new expansion contract from Amazon and highlighted the company's breakthrough generative AI technology.
He stated: "Due to our experienced team and our AI’s ability to scale to meet and even exceed the very strict 3D model requirements of Amazon, they have expanded and dramatically increased volumes resulting in a significant surge in 3D model demand from Amazon starting in Q3, 2023."
Gappelberg also emphasized the shift from 2D photos to 3D models in eCommerce and various industries, a transformation gaining rapid momentum and becoming the new commerce standard. He compared this shift to the historical replacement of Kodak film by digital pictures in the 1990s, noting the exponential growth potential in the 3D modeling industry.
Nextech3D.ai is confident about its future growth and has raised $2.5 million in capital to meet the anticipated surge in demand and revenue from millions of Amazon merchants yet to purchase 3D models from the company. With over 25,000-plus 3D models delivered to Amazon in the past 12 months, Nextech3D.ai positions itself as a leading provider for the cutting-edge technological revolution in 3D modeling.
The company's generative AI technology, which enables rapid 3D model creation, sets it apart as a leader in the e-commerce industry. Nextech3D.ai has also filed a provisional patent for 'Generative AI for 3D Model Creation from 2D Photos using Stable Diffusion with Deformable Template Conditioning', further solidifying its position in the market.
Nextech3D.ai expands beyond eCommerce into gaming and manufacturing, offering investors a unique opportunity to be part of a company driving AI-powered innovation in the lucrative 3D modeling sector.
Investors can learn more about the Amazon partnership and the company's latest developments in an upcoming livestream on Tuesday, August 1, 2023. The livestream will feature presentations from Gappelberg and Reza Davariar, the company's COO. Interested parties can use the following link to access it: https://www.youtube.com/watch?v=aL2bz3wlpvI
Contact the author at jon.hopkins@proactiveinvestors.com