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What happened
Actions of blue raspberry (NYSE: BB) they are rising once again today after gaining 25% yesterday. Yesterday’s jump and today’s subsequent rise stem from the new agreement of the company to work with AmazonAmazon’s cloud computing company, Amazon Web Services (AWS), on an intelligent vehicle data platform.
The tech stock rose as much as 20.1% this morning and was up 7.5% at 1:15 pm EST.
So
BlackBerry said yesterday that its new intelligent vehicle data platform, IVY, will help automakers understand and use vehicle sensor data.
Image source: Getty Images.
BlackBerry CEO John Chen said in the company’s press release: “This software platform promises to bring an era of inventions into the in-vehicle experience and help create new applications, services and opportunities without compromising the security, protection or privacy of customers “.
BlackBerry will use some of AWS cloud computing services, including the Internet of Things and machine learning systems, for some of the platform’s capabilities.
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 connected world.”
Now what
The multi-year global deal between the two companies has strengthened investor sentiment in BlackBerry over the past couple of days. The company did not specify in the announcement how the joint effort will improve BlackBerry’s profits or earnings, so investors will need to pay close attention to BlackBerry’s quarterly results to see if the deal brings significant financial benefits.
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