OSLO - Opera (NASDAQ:OPRA) Limited [NASDAQ: OPRA], the Norway-based software company known for its web browsers, has announced plans to integrate on-device artificial intelligence (AI) capabilities into its Opera One and Opera GX browsers.
The feature, which leverages local Large Language Models (LLMs), is set to move out of the experimental stage and become available to the public across all supported platforms, including Windows, MacOS, and Linux.
The initial introduction of on-device AI in April 2024 positioned Opera as the pioneer in offering such technology directly within a browser. This development allowed users to access and manage over 2000 local LLM variants from more than 60 model families. According to Krystian Kolondra, EVP Browsers and Gaming at Opera, this move aims to enhance user privacy by reducing the need to transfer personal data to external servers during AI interactions.
This week, Opera's browser AI, named Aria, gained a new image understanding feature. Users can now upload images to Aria within the browser's sidebar chat and receive information and context about those images from the AI. This advancement is part of Opera's ongoing AI Feature Drops program, which regularly introduces innovative AI functionalities to its developer browser stream.
Supporting these AI capabilities, Opera has made significant investments, including the implementation of an NVIDIA (NASDAQ:NVDA) H100 card-powered AI data cluster in Iceland. This facility, which runs on green energy, has been recognized as the 88th most powerful supercomputer globally. Furthermore, Opera recently announced a collaboration with Google (NASDAQ:GOOGL) Cloud to incorporate Gemini models into its Aria browser AI, signaling the company's commitment to providing advanced AI solutions to its users.
Opera's strategic direction is clear with its statement that all Opera users will soon be AI users. The integration of on-device AI is a testament to the company's focus on user-centric and innovative browsing experiences.
Opera, founded in 1995, continues to serve hundreds of millions of users with its secure and feature-rich web browsers. The company's products are available for download at opera.com, and more information about Opera can be found at investor.opera.com.
This article is based on a press release statement from Opera Limited.
InvestingPro Insights
Opera Limited's recent advancements in AI integration for its browsers are a compelling development for tech enthusiasts and investors alike. As Opera forges ahead with its AI Feature Drops program and strategic partnerships, it's crucial to look at the company's financial health and market performance to understand the broader context of these innovations.
The company's market capitalization stands at 1.32 billion USD, reflecting a robust position in the software industry. Opera's price-to-earnings (P/E) ratio is currently at 8.62, which may suggest that the company's earnings are priced attractively relative to the market. Still, looking at the adjusted P/E ratio for the last twelve months as of Q1 2024, the figure is higher at 18.41, indicating a change in investor perceptions or company earnings over time.
InvestingPro Data also shows that Opera has experienced a significant 20.61% return over the last three months and an even more impressive 36.49% price uptick over the last six months. This performance could be a reflection of investor confidence in the company's strategic initiatives and market position.
From the InvestingPro Tips, it's worth noting that Opera holds more cash than debt on its balance sheet, which is a strong indicator of financial stability. Additionally, the company's liquid assets exceed short-term obligations, providing Opera with a solid foundation to manage any short-term financial needs without strain.
For those interested in deeper analysis, Opera has several more InvestingPro Tips available, including insights into earnings revisions, profitability predictions, and cash flow coverage. For instance, 2 analysts have revised their earnings downwards for the upcoming period, which could be an essential factor to consider for future investment decisions. To explore these additional tips and gain a comprehensive understanding of Opera's financial outlook, visit https://www.investing.com/pro/OPRA and remember to use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.