Adobe (ADBE, Financial) shares climbed 3.55% to $513. This surge follows the announcement of new AI tools aimed at creating and editing videos. The initiative places Adobe alongside major tech firms and startups eager to capitalize on the burgeoning demand for innovative technology.
Over the past year, Adobe has integrated generative AI features into its suite of software designed for creative professionals, including its flagship products Photoshop and Illustrator. The company has already launched tools that utilize text to generate images and illustrations, which have seen billions of uses to date.
