LAS VEGAS – MongoDB , Inc. (NASDAQ: NASDAQ:), a $24.3 billion technology company growing revenue at 22% annually, announced today the expansion of its MongoDB AI Applications Program (MAAP) with the addition of several leading AI and technology companies, including Capgemini, Confluent, IBM (NYSE:), QuantumBlack, AI by McKinsey, and Unstructured. This move is aimed at enhancing the program’s ability to assist organizations in leveraging AI technologies more effectively. According to InvestingPro data, MongoDB currently appears overvalued compared to its Fair Value, though 22 analysts have recently revised their earnings expectations upward.
The MAAP initiative, which has been instrumental in aiding customers like CentralReach, a provider of AI-powered care platforms for autism and intellectual and developmental disabilities, now includes a broader range of integration and solution options. CentralReach has utilized the program to improve its AI-powered electronic medical record (EMR) platform, leading to enhanced clinical delivery and outcomes. MongoDB maintains a strong financial position with more cash than debt and a healthy current ratio of 5.03, indicating robust operational stability.
The MAAP expansion follows the recent introduction of vector quantization to MongoDB Atlas (NYSE:) Vector Search, which aims to reduce vector sizes while maintaining performance and lowering costs. Additionally, MongoDB has announced new integrations with other leading AI and technology firms.
MongoDB’s collaboration with Meta (NASDAQ:) to support developers with Meta models and the MAAP technology stack is another significant development. This partnership is expected to facilitate the development of innovative, AI-enriched applications, as both enterprise and public sector customers are currently leveraging these tools to advance their business objectives.
Greg Maxson, Senior Director of AI GTM and Strategic Partnerships at MongoDB, highlighted the program’s goal to empower customers to use their data to create custom AI applications in a scalable, cost-effective manner. Maxson also noted the importance of the program’s evolution to meet the changing AI landscape and provide customers with a diverse array of leading solutions.
The MAAP Center of Excellence Team, consisting of AI experts from MongoDB and its partners, has collaborated with over 150 organizations to address technical challenges and support the development and deployment of AI applications across…
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