Adobe on Tuesday announced more than 100 new generative artificial intelligence features and updates for its software for creative professionals. ADBE stock has gotten a boost this year from its advancements in generative AI.
The new features include three new image generators in its Firefly family of products. The company also released scores of AI features and updates across its Creative Cloud applications, including Adobe Illustrator, Photoshop, Lightroom, Premiere Pro, After Effects and Adobe Stock.
Adobe announced the new features at its annual Adobe Max conference in Los Angeles.
ADBE stock rose 0.7% to close at 532.72 on the stock market today. On June 9, ADBE stock broke out of a cup base at a buy point of 451.15, according to IBD MarketSmith charts.
ADBE Stock Forming New Base
Now, ADBE stock is forming a flat base at a buy point of 570.24, a weekly MarketSmith chart shows.
The San Jose, Calif.-based company also showcased Adobe GenStudio, a new content creation solution for enterprises. It brings together content ideation, creation, production and activation and has customized Firefly generative AI at its core.
"Since the release of our first Firefly image model in March, we've been taken aback by the amazing response from the community," David Wadhwani, president of Adobe's Digital Media business, said in a news release.
Firefly is "enhancing experimentation and design and speeding up workflows, without compromising creative control," he said.
Over 3 Billion Images Generated
"With over 3 billion image generations to date, including more than a billion in the last month alone, the early adoption of Firefly demonstrates the unique power of bringing foundation models into the workflows customers know and love," Wadhwani said.
Enterprise customers using Adobe Firefly tools include Mattel, Nascar and Prudential Financial.
At the conference, Adobe demonstrated the improved image quality of its second-generation Firefly Image product.
Firefly Image 2 generates higher-quality images and illustrations than the original product. It enhances human rendering quality with improvements to skin, hair, eyes, hands, and body structure, offers better colors and improved dynamic range, and provides users greater ability to control output.
ADBE Stock On Two IBD Lists
Year to date through Tuesday's close, ADBE stock is up 58%.
Adobe ranks first out of six stocks in IBD's Computer Software-Desktop industry group. ADBE stock has an IBD Composite Rating of 98 out of 99, according to IBD Stock Checkup.
Further, ADBE stock is on the IBD Big Cap 20 and Tech Leaders stock lists.
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