Bilibili (BILI) Soars 7.66% on Launch of AI Tool

Bilibili Inc. (NASDAQ:BILI) is one of the 10 Stocks Crushing Market Expectations.

Bilibili rallied for a second day on Monday, adding 7.66 percent to close at $22.48 apiece following news that it was set to launch an Artificial Intelligence tool that would assist content creators in video podcast production.

To be called Codename H, the new tool is expected to assist in the transition of audio and text formats to video through generation of visuals based on user inputs.

Additionally, it will feature templates for podcasts and knowledge-sharing content.

At present, Bilibili Inc.’s (NASDAQ:BILI) AI tool is able to create a video for a 1,000-word script in six minutes, with plans to reduce this time to three minutes.

Bilibili Inc. (NASDAQ:BILI) said it was working to attract podcast creators this summer, highlighting the potential for growth in video podcasts.

In the first quarter of the year, the company said it narrowed its net loss attributable to shareholders by 99 percent to 9.1 million yuan from 748 million yuan in the same period last year.

Revenues increased by 25 percent to 7 billion yuan from 5.66 billion yuan in the same period last year.

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Disclosure: None. This article is originally published at Insider Monkey.