On Wednesday, Itron, Inc. (NASDAQ:ITRI) announced a new collaboration with NVIDIA Corporation to accelerate the adoption of AI-powered solutions at the grid edge, helping utilities and communities tackle some of the industry's challenges.
Itron shares are trading relatively flat in the premarket session on Thursday.
This partnership integrates Itron's advanced Grid Edge Intelligence portfolio with NVIDIA's AI solutions to provide utilities with real-time data and actionable insights, transforming how they manage energy distribution and operations.
The collaboration aims to address utility needs such as grid resilience, disaster management, consumer engagement, and operational efficiency.
By integrating NVIDIA's Jetson Orin Nano and AI Enterprise platforms into Itron's offerings, the companies will leverage edge computing to optimize utility operations.
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Itron's extensive experience with over 13 million distributed intelligence-enabled endpoints globally will complement NVIDIA's AI capabilities, offering utilities enhanced data processing and decision-making tools.
Utilities will benefit from several new AI use cases, including improved grid optimization, energy demand forecasting, and real-time data processing.
With AI-enabled edge computing, utilities will be able to better manage energy distribution, predict energy demand more accurately, and make faster, informed decisions to prevent issues like blackouts and overloads.
This collaboration is designed to help utilities improve grid performance, support decarbonization efforts, and build more resilient infrastructures.
"Itron and NVIDIA are committed to combining their expertise to benefit utilities and municipalities in the energy, water, gas, and smart city industry through AI," said Don Reeves, Senior Vice President of Outcomes at Itron.
Marc Spieler, Senior Managing Director of Energy at NVIDIA, added, "We are ushering in a new era of global innovation for utilities with our AI solutions and are excited to work with an industry leader like Itron in revolutionizing the way AI is used within the utility industry."
Price Action: ITRI shares are trading lower by 0.95% to $107.10 premarket at last check Thursday.
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Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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