what happened
Shares of BlackBerry (NYSE: BB) After a 25% increase yesterday, today is once again churning. Yesterday’s leap and today’s post-growth stem from the new contract to work with it AmazonCloud computing company, Amazon Web Services (AWS) on the intelligent vehicle data platform.
Tech stocks rose 20.1% this morning and 7.5% EST at 1:15 p.m.
So what
BlackBerry said yesterday that its new intelligent vehicle data platform, IVY, will help automakers understand and use vehicle sensor data.
Image Source: Getty Images.
“This software software platform will usher in an era of innovation in the vehicle experience without compromising security, safety or customer privacy, and will help create new applications, services and opportunities,” BlackBerry CEO John Chen said in a press release.
The Internet will use some of AWS’s cloud computing services, including Internet of Things and machine-learning systems, for some features of the BlackBerry platform.
Andy J. Assy, CEO of AWS, said in a CA publication that the joint effort would “provide insiders with the insights, capabilities, agility and momentum needed to grow in an increasingly connected world.”
Now what
The global multi-year agreement between the two companies has boosted investor sentiment in the BlackBerry over the past two days. The company did not specify in the announcement how the joint effort would improve BlackBerry’s top or bottom line, so investors will have to pay more attention to BlackBerry’s quarterly results to see if there is any significant financial benefit from the deal.
