Why Shares of Innodata Were Moving Higher This Week
Shares of Innodata (NASDAQ: INOD), a fast-growing AI stock, were moving higher this week, seemingly on speculation that the company could benefit from Meta Platforms' deal with Scale AI, a competitor to Innodata.Some of Scale AI's customers are reconsidering working with it now that Meta is acquiring a 49% stake in the company, which could open up an opportunity for Innodata, a rival data labeling company, meaning it helps categorize and prepare data for AI models.In a week when a number of AI stocks were moving higher, Innodata was also a winner, as the stock was up 18.2% for the week, according to S&P Global Market Intelligence.Continue reading
Shares of Innodata (NASDAQ: INOD), a fast-growing AI stock, were moving higher this week, seemingly on speculation that the company could benefit from Meta Platforms' deal with Scale AI, a competitor to Innodata.
Some of Scale AI's customers are reconsidering working with it now that Meta is acquiring a 49% stake in the company, which could open up an opportunity for Innodata, a rival data labeling company, meaning it helps categorize and prepare data for AI models.
In a week when a number of AI stocks were moving higher, Innodata was also a winner, as the stock was up 18.2% for the week, according to S&P Global Market Intelligence.
