These are top 10 stocks traded on the Robinhood UK platform in July
OSLO - Opera (NASDAQ:OPRA) [NASDAQ: OPRA], the Norwegian browser developer, has made its integrated AI, named Aria, accessible to all desktop and gaming users, as well as to Opera for Android beta users, without the need for logging in. The move aims to democratize the use of Aria's functionalities, including Image Generation and Page Context mode.
Previously, Opera account holders were the only ones able to utilize Aria's features, but the company has now removed this barrier. This development is part of Opera's broader strategy to enhance its browser AI capabilities, following Aria's introduction in 2023.
Krystian Kolondra, EVP Browsers and Gaming at Opera, stated, "We believe that AI should be available to everyone, and this change makes it easier for users to experience the benefits of Aria." The company is also preparing to extend Aria's availability to Opera for Android and Opera for iOS in the coming weeks.
Opera's AI Composer engine powers Aria, which employs models like GPT or Gemini to process user queries. Additionally, Opera has invested in a green-energy-powered AI data cluster in Iceland to support its AI initiatives sustainably.
The company's "AI Feature Drops" program has been a testing ground for new AI functionalities in the Developer version of the browser. Successful features from these trials have been integrated into the main version of Opera One and are now accessible to all users.
Opera, founded in 1995 and listed on the Nasdaq stock exchange, emphasizes providing a secure and unique browsing experience across various devices. The company's commitment to innovation and user-centric design has attracted hundreds of millions of users worldwide.
The information for this article is based on a press release statement. Opera's latest move to make Aria available without login requirements reflects its commitment to enhancing user accessibility to advanced AI tools within its browsers.
In other recent news, Opera has reported a strong financial performance with a 17% year-over-year increase in total revenue to $109.7 million for its second quarter of 2024, and a substantial 30% growth in adjusted EBITDA to $26.6 million. This has prompted TD Cowen, Citi, and Goldman Sachs to maintain a Buy rating on Opera shares, with price targets ranging from $19.50 to $25.00. The firms attribute this positive outlook to Opera's robust e-commerce performance and the integration of AI efficiencies, among other factors.
In addition to these financial highlights, Opera has launched its AI-powered browser, Opera One, for iOS devices, and announced plans to integrate on-device AI capabilities into its Opera One and Opera GX browsers. This move is supported by significant investments, including an NVIDIA (NASDAQ:NVDA) H100 card-powered AI data cluster in Iceland. Opera's browser AI, named Aria, recently gained a new image understanding feature as part of the company's ongoing AI Feature Drops program.
In collaboration with Google (NASDAQ:GOOGL) Cloud, Opera has integrated Google's Gemini models into its Aria browser AI, aiming to provide advanced AI features to its users. These recent developments reflect a positive outlook on Opera's financial health and its commitment to providing advanced AI solutions to its users.
InvestingPro Insights
As Opera [NASDAQ: OPRA] continues to push the boundaries of browser technology by making its AI Aria widely accessible, investors may take interest in the company's financial health and market performance. Opera's strategic moves toward AI integration appear to be unfolding alongside a solid financial backdrop, according to recent data from InvestingPro.
The company's market capitalization stands at a robust $1.31 billion, reflecting investor confidence in its market position and future prospects. Opera's commitment to innovation, as demonstrated by the AI Feature Drops program and the development of Aria, is backed by a strong balance sheet that holds more cash than debt. This financial stability is essential for supporting ongoing research and development efforts in the competitive tech landscape.
InvestingPro Tips highlight that Opera has been profitable over the last twelve months, with a net income expected to drop this year. Nevertheless, the company's liquid assets exceed short-term obligations, indicating a healthy liquidity position that can support Opera's operational needs and strategic initiatives. Moreover, analysts predict the company will maintain profitability this year, which could be a reassuring signal for investors considering Opera's growth trajectory.
On the earnings front, two analysts have revised their earnings upwards for the upcoming period, suggesting that Opera's financial performance may outperform previous expectations. This optimism could be linked to the company's strategic decisions, including the expansion of Aria's availability, which may drive user engagement and, subsequently, revenue growth.
For those interested in deeper financial analysis and more insights, InvestingPro offers additional tips on Opera's financial metrics and market performance. To explore these further, investors can visit InvestingPro's Opera page, where they can find a comprehensive list of 7 additional InvestingPro Tips to inform their investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.