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Investors were cheered by the latest deployment of the aiWARE platform.
It now resides on self-hosted private tenants within two major cloud computing services.
According to data compiled by S&P Global Market Intelligence, shares of Veritone (NASDAQ: VERI) were zooming 8% higher week-to-date as of early Friday afternoon. This followed a similar bull run last week. This time, the artificial intelligence (AI) software analytics company benefited from a new deployment of its software platform within major cloud computing services.
Veritone announced that on Tuesday, saying that the platform -- aiWARE -- and the company's applications have been deployed on self-hosted private Amazon Web Services (AWS) and Microsoft Azure tenants (i.e., secure spaces for a client's cloud assets).
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Image source: Getty Images.
aiWARE is Veritone's flagship offering. It approximates an operating system that can simultaneously manage a cluster of artificial intelligence (AI) models for various functionalities.
In the press release announcing the news, Vertione highlighted the utility of its products to public-sector agencies.
It quoted CEO Ryan Steelberg as saying that "We're proud to have created a deployment model that allows organizations like defense and law enforcement agencies to maintain complete control over their infrastructure and data without sacrificing the scalability, flexibility, or power of AI."
That deployment on self-hosted AWS and Azure spaces is certainly a milestone for Veritone, and it's sure to burnish the company's reputation as a useful AI services provider. I like the direction Veritone is heading, and it's certainly operating in a potentially high-growth environment. However, I'd be more encouraged if it could start to reduce its consistent net losses more meaningfully.
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