Nextech3D.AI seeing rapid growth as augmented reality goes mainstream
Last updated: 11:51 12 Mar 2024 EDT, First published: 14:00 11 Nov 2021 EST
Snapshot
- Nextech3D.ai launches new division focused on incubating AI solutions
- Nextech AR Solutions' momentum highlighted by new 3D modelling contract, analysts say
- Nextech3D.ai creates AI Incubator and Development division with eyes on potential spinout
About the company
Nextech3D.ai or the "Company," (OTCQX: NEXCF) (CSE: NTAR) (FSE: EP2), is a versatile augmented reality and AI technology company that utilizes its proprietary artificial intelligence (AI) to craft immersive 3D experiences at scale for E-COMMERCE. The Company's primary focus lies in creating high-quality 3D WebAR photorealistic models for Amazon and various other online retailers. Nextech3D.aihas adopted a unique approach to creating shareholder value beyond its operating business of creating 3D models.
The Company also develops or acquires disruptive AI-technologies, which are subsequently spun out to shareholders as standalone public companies. This spin-out strategy allows Nextech3D.ai to issue stock dividends to its shareholders while maintaining significant ownership in the public spin-out, without dilution to the parent company Nextech3D.ai.
How it is doing
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has announced the launch of its new AI Incubator and AI Development Division which has the goal of nurturing AI solutions across a range of sectors, including education, healthcare, eCommerce, blockchain, and retail.
The company said the division will be led by a team of three AI scientists, as well as CEO Evan Gappelberg and former Microsoft and Meta executive Hareesh Achi.
The division’s core scientist team will be made up of computer vision and machine learning scientists Katyani Singh and Amir Salimnia and machine learning researcher and software engineer Omid Alemi.
The company said these AI scientists were chosen due to their leading work and contributions to the field and they will be focused on developing innovative, ethically responsible and sustainable AI-driven technologies.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) announced that it has established a new business unit targeting the jewellery industry with 3D models, blockchain technology, and non-fungible tokens (NFTs).
The company said this business unit will focus on using the GPT AI AD to 3D texturing platform of its spin-off company Toggle3D.ai Inc (CSE:TGGL, OTCQB:TGGLF). This can convert jewelry CAD files into 4K 3D quad meshes and uses AI to texture the jewelry in yellow gold, white gold or rose gold then, when that is completed, it uses its AI photography studio to create lifestyle images.
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) has announced the expansion of its artificial intelligence tech team along with a doubling of its office space in Hyderabad, India.
This move comes as a response to the burgeoning demand for its Generative GPT AI-powered 3D model production platform, which is supplied to e-commerce platforms including Amazon, P&G, Kohls, Miele, and notable integrations with Shopify, BigCommerce, and WooCommerce.
What the brokers say
Nextech AR Solutions Corp has earned a repeat ‘Buy’ rating and an unchanged price target of US$2.50 from HC Wainwright & Co analysts after it announced a new modelling contract with a top 10 eCommerce retailer.
The analysts’ price target represents about a 300% upside on Nextech’s stock, with shares currently trading at about US$0.62.
In a note to clients, analysts wrote that the modelling contract, which was announced on February 9, increases their confidence in the company’s ability to meet, or exceed, lofty expectations.
What management says
Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF) CEO Evan Gappelberg joined Steve Darling from Proactive to announce the launch of the company's new AI Incubator and AI Development Division. This initiative represents a significant step forward in Nextech3D.ai's commitment to advancing artificial intelligence technologies and signifies a major milestone in the company's growth trajectory. The AI Incubator and Development Division, led by Gappelberg and Head of Product Operations Hareesh Achi, aims to nurture AI solutions that enhance the human experience across various sectors, including education, healthcare, ecommerce, blockchain, retail, and more.
This strategic move underscores Nextech3D.ai's dedication to pushing the boundaries of AI and 3D technology integration for its shareholders. The core team of AI scientists spearheading this initiative includes Katyani Singh, Amir Salimnia, and Omid Alemi. Each member brings expertise in computer vision, machine learning, and software engineering, contributing to the development of AI-driven technologies and solutions. The division's research and development efforts will focus on creating AI tools and applications that empower businesses and consumers alike, aiming to foster a future where technology and humanity intersect seamlessly. This forward-looking approach positions Nextech3D.ai at the forefront of AI innovation and underscores its commitment to delivering value to its shareholders.