Market Overview

Veritone Rips Higher After Being Recognized By AWS

Veritone Rips Higher After Being Recognized By AWS

What Happened: Volatile Veritone Inc (NASDAQ: VERI) spiked more than 20 percent late Tuesday after announcing it is among the first Amazon Web Services recognizes as machine-learning competent.

Why It's Important: The designation ultimately elevates Veritone to membership in the AWS Partner Network, which supports Amazon’s efforts to provide clients data solutions, enable machine learning and improve software as a service products.

The affiliation with and endorsement from Amazon also boosts Veritone’s credibility among machine-learning clients.

"Given the complexity of building a scalable and reliable production workflow that serves billions of predictions, deploying machine learning at scale is still a challenge," Joseph Spisak, global lead for artificial intelligence and machine learning partnerships at AWS, said in a press release. "We are thrilled to have Veritone join us as an APN Partner for the Artificial Intelligence and Machine Learning Competency Program. By automating routine tasks, teams are able focus squarely on the problems they are trying to solve and spend less time worrying about how to optimize and deploy their models."

What's Next: As an Amazon partner, Veritone will expand its customer base to provide AWS clients access to its aiWARE platform. The stock closed at $27.51, up 23.5 percent.

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Posted-In: Amazon Web Services AWS Joseph SpisakNews Movers Best of Benzinga


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