Arrow Electronics (ARW), SiMa.ai Forge Partnership in EMEA
Arrow Electronics ARW has entered into a strategic partnership with SiMa.ai, a company known for its software-centric and embedded edge machine learning systems-on-chip (MLSoC). ARW is set to distribute SiMa.ai’s products across the Europe, Middle East and Africa (EMEA) region.
SiMa.ai offers a comprehensive platform designed to scale with customers’ artificial intelligence (AI) and ML projects, supporting various applications from computer vision to multimodal generative AI. Its MLSoC is engineered for high performance and power efficiency, allowing the deployment of complete real-world workloads as standalone edge-based systems.
The MLSoC integrates seamlessly with SiMa.ai's Palette Software, enhancing compute capabilities and maximizing efficiency across multiple sectors, including industrial manufacturing, retail, aerospace, defense, agriculture and healthcare. It delivers industry-leading frames per second per watt performance in the edge AI/ML market.
Under this agreement, ARW will exclusively distribute SiMa.ai's MLSoC, Palette Software and Development Kits in the EMEA region. Both companies are collaborating on marketing efforts to expand the reach of SiMa.ai's innovative solutions.
Arrow Electronics, Inc. Price and Consensus
Arrow Electronics, Inc. price-consensus-chart | Arrow Electronics, Inc. Quote
ARW Boosts AI and Cloud Services for Embedded Applications
Arrow Electronics is expanding its support for customers in AI and ML for embedded applications with the introduction of Arrow Edge AI engineering services. These new resources offer a comprehensive suite of solutions, including consultancy, technical training, design services, pre-built software and a curated selection of tools.
In the previous quarter, the company launched the ArrowSphere Assistant, an AI-powered tool backed by Microsoft MSFT Azure AI. Designed to aid channel partners in managing their cloud businesses via ArrowSphere Cloud, this smart assistant helps uncover new business opportunities, enhance efficiency and increase revenues. ArrowSphere Assistant streamlines tasks, enabling quicker decision-making and improved cloud services for customers.
These ongoing innovations in AI are anticipated to support ARW's revenue growth in the coming quarters.
The Zacks Consensus Estimate for Arrow’s fiscal 2024 revenues is pegged at $27.9 billion, indicating a year-over-year decline of 15.73%. The consensus estimate for 2024 earnings is pinned at $10.56 per share, suggesting a year-over-year decrease of 38.32%.
Shares of this Zacks Rank #4 (Sell) company have gained 6.2% year to date compared with the Zacks Computer and Technology sector’s growth of 17.3% due to tough competition from giants like International Business Machines IBM and HashiCorp HCP.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IBM offers powerful tools for AI and cloud integration, such as IBM Cloud Orchestrator and IBM Power Virtual Server, which streamline complex cloud tasks and provide a robust platform for critical workloads. HashiCorp’s Terraform, a leading open-source infrastructure-as-code tool, is widely used for managing cloud infrastructure. HCP’s collaboration with Microsoft enhances the deployment of AI applications on Azure.
As AI and ML continue to reshape industries, Arrow Electronics' expanded engineering services position the company to capitalize on the growing demand for embedded AI/ML solutions.
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