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Synaptics Stock Surges on Google AI Tech Partnership
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Shares of Synaptics ( SYNA ) surged more than 6% Thursday after the developer of technology for the Internet of Things (IoT) announced an artificial intelligence (AI) collaboration with Alphabet's ( GOOGL ) Google.
The company said that it would be teaming with Google on Edge AI "for the IoT to define the optimal implementation of multimodal processing for context-aware computing."
Synaptics explained that the agreement will integrate Google's machine learning core with its Synaptics Astra hardware. It noted that the combination will speed up development of AI devices for the IoT "that support the processing of vision, image, voice, sound, and other modalities" used in a range of applications.
Chief Product Officer Vikram Gupta said the world is "on the brink of a transformative era in Edge AI devices," and that working with Google "reflects a shared vision to leverage open frameworks as a catalyst for disruption in the Edge IoT space."
Even with today's advance, Synaptics shares have lost more than a quarter of their value in the past year. Shares of Alphabet, which slipped less than 1%, are up nearly 40% since the beginning of 2024.
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