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What happened
Actions of Blackberry (NYSE: BB) are still climbing today after gaining 25% yesterday. Yesterday’s jump and today’s subsequent increase stem from the new company agreement to work with AmazonAmazon Web Services (AWS) cloud computing company on a smart vehicle data platform.
The tech stock was up 20.1% this morning and 7.5% as of 1:15 p.m. EST.
So what
BlackBerry said yesterday that its new intelligent vehicle data platform, IVY, will help automakers understand and use data from vehicle sensors.
Image source: Getty Images.
BlackBerry CEO John Chen said in the company’s press release: “This software platform promises to bring an era of invention to the in-car experience and help build new applications, services and opportunities without compromising customer safety, security or privacy. ”
BlackBerry will use some of AWS’s cloud computing services, including the Internet of Things and machine learning systems, for certain platform functionality.
AWS CEO Andy Jassy said in the statement that the joint effort “will provide automakers with the information, capabilities, agility and speed they need to thrive in an increasingly fast-paced world. more connected ”.
Now what
The multi-year global deal between the two companies has boosted investor sentiment in BlackBerry over the past two days. The company did not specify in the announcement how the joint effort will improve BlackBerry’s results, so investors will need to pay close attention to BlackBerry’s quarterly results to see if the deal brings any significant financial benefits.
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