OSLO - Opera (NASDAQ:OPRA), the Norway-based internet browser developer, announced today its collaboration with Google (NASDAQ:GOOGL) Cloud to enhance its browser AI, Aria, by integrating Google's Gemini models. The partnership aims to provide Opera users with advanced AI features, such as image generation and text-to-voice capabilities.
Opera's Aria browser AI, powered by the company's multi-LLM Composer AI engine, is designed to curate personalized experiences by choosing the most suitable model for each user's task. With the integration of Google's Gemini model, Opera expects to deliver more current information and improved performance to its users.
Per Wetterdal, EVP Partnerships at Opera, expressed enthusiasm for the deepened cooperation with Google Cloud, building on a relationship spanning over two decades. Eva Fors, Managing Director at Google Cloud Nordic Region, also commented on the partnership, highlighting the mutual commitment to driving AI innovation in the browser space.
The announcement coincides with the release of Opera's latest AI Feature Drop, which includes free image generation using Google Cloud's Imagen 2 model on Vertex (NASDAQ:VRTX) AI and conversational-like voice output capabilities, available in the Opera One Developer version of the browser. This feature drop represents a significant step in Opera's ongoing effort to leverage AI technology to enhance its suite of browser services.
Opera has been exploring browser AI for over a year and has recently inaugurated a green energy-powered AI data cluster in Iceland to support the expansion of its AI program. The company's AI Feature Drops program allows early adopters to test experimental AI innovations, demonstrating Opera's commitment to staying at the forefront of browser technology.
InvestingPro Insights
Opera's strategic partnership with Google Cloud to enhance its browser AI, Aria, is a reflection of the company's commitment to innovation and growth. InvestingPro data shows a robust financial profile for Opera, with a market capitalization of 1230 million USD and a solid revenue growth of 18.8% over the last twelve months as of Q1 2024. This growth is underpinned by a high gross profit margin of 55.79%, signaling efficient operations and a strong market position.
InvestingPro Tips highlight that Opera has a healthy balance sheet, holding more cash than debt, which is a positive sign for investors considering the company's financial stability. Additionally, Opera's liquid assets exceed its short-term obligations, ensuring the company can meet its immediate financial liabilities without strain.
While two analysts have revised their earnings expectations downwards for the upcoming period, Opera's cash flows can sufficiently cover interest payments, and the company is expected to remain profitable this year. This is evidenced by the strong return over the last three months, with a price total return of 19.74%.
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