Welcome to our dedicated page for Cerence news (Ticker: CRNC), a resource for investors and traders seeking the latest updates and insights on Cerence stock.
Cerence Inc. (NASDAQ: CRNC) is a leading software company based in the United States, specializing in creating advanced, AI-driven solutions for the mobility world. As an innovation partner to the world's leading automakers and mobility OEMs, Cerence is pioneering the future of connected mobility. The company's cutting-edge technology facilitates seamless, intuitive interaction between humans and their vehicles, integrating consumers' digital lives with their daily journeys.
Cerence boasts over 20 years of expertise and has shipped its technology in more than 475 million cars globally. The company's solutions span connected cars, autonomous driving, e-vehicles, and other domains, ensuring a smarter, safer, and more enjoyable driving experience.
Recent milestones include the appointment of Daniel Tempesta as Chief Financial Officer, who brings over 30 years of financial and operational expertise. Cerence also introduced CaLLM™, its automotive-specific large language model, which is already gaining traction with three major global automakers. Furthermore, the company is collaborating with Foxtron to bring voice-powered interaction to electric vehicles in Taiwan, and BMW Group is leveraging Cerence's Emergency Vehicle Detection technology to enhance safety features in its vehicles.
Financially, Cerence generates revenue primarily through software licenses and cloud-connected services, with a significant portion derived from the United States and a growing presence in regions like Europe, the Middle East, Africa, and Asia-Pacific. Despite facing challenges such as production delays and economic uncertainties, the company remains committed to advancing its generative AI and large language model product roadmap, aiming to drive sustainable, long-term value.
To stay updated on Cerence's latest developments, visit their website at www.cerence.com and follow the company on LinkedIn and Twitter.
Cerence announced its partnership with Zeekr, a premium electric vehicle brand under Geely Holding Group, to integrate its advanced conversational AI technology into Zeekr's in-car virtual assistant. This collaboration will support ten languages, enhancing driving experiences across diverse global markets.
Zeekr is expanding into more than 20 international markets, including Sweden, the Netherlands, and Australia, with plans to reach 50 markets by the end of 2024. Deliveries of Zeekr’s RHD models will begin in Q3 2024. The Cerence Assistant will provide personalized, proactive experiences using data from car sensors for a comprehensive, multi-modal interaction.
Christian Mentz, Cerence's Chief Revenue Officer, highlighted Zeekr's innovative approach in EV and user-centered design, emphasizing Cerence’s role in delivering an intelligent, global in-car assistant experience.
Cerence Inc. (NASDAQ: CRNC) reported Q2 revenue above expectations, but lowered FY24 guidance due to OEM-related issues and a Goodwill impairment charge. The company sees potential in new generative AI products and next-gen platform for future growth.
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