Xometry Leverages Google Cloud To Accelerate The Digitization Of Manufacturing Globally

Rhea-AI Summary

Xometry (NASDAQ: XMTR) partners with Google Cloud to use Vertex AI to accelerate the deployment of new auto-quote methods and models within its AI-powered Instant Quoting Engine. This will help Xometry expand its markets for custom manufacturing globally and digitize the manufacturing process, transforming an otherwise manual process into a real-time, AI-driven digital marketplace.

Positive

• Partnership with Google Cloud and use of Vertex AI to accelerate deployment of new auto-quote methods and models
• Expansion of markets for custom manufacturing globally
• Digitization of manufacturing process and transformation into a real-time, AI-driven digital marketplace

Negative

• None.

• Google Cloud Vertex AI To Help Accelerate Deployment Of Auto-Quote Methods & Models Within Xometry’s AI-Powered Instant Quoting Engine
• Will Help Ensure Xometry’s Instant Quoting Engine® Encompasses The Broadest Set Of Manufacturing Technologies
• Will Help Drive Expansion Of Markets For Custom Manufacturing Globally
  

NORTH BETHESDA, Md., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Xometry (NASDAQ: XMTR), the global AI-powered marketplace connecting enterprise buyers with suppliers of manufacturing services, today announced a partnership with Google Cloud to leverage Vertex AI to help accelerate the deployment of new auto-quote methods and models within Xometry’s AI-powered Instant Quoting Engine.

Using Vertex AI, Xometry will accelerate the deployment of its instant-quoting and fulfillment capabilities to encompass the broadest and most comprehensive set of manufacturing technologies. As a result, Vertex AI will help Xometry expand the markets it serves for custom manufacturing and further advance the digitization of manufacturing globally.

Xometry’s two-sided digital marketplace is transforming manufacturing by digitizing an otherwise manual process that took weeks, at best, to get from design to production. In expediting the process, Xometry is helping customers create resilient supply chains while also empowering manufacturers with digital tools to significantly grow their businesses.

“Since our inception, Xometry’s two-sided marketplace has harnessed data and the power of AI to connect buyers and suppliers in real-time, driving the digitization of industry around the world,” said Matt Leibel, Xometry’s Chief Technology Officer. “Google Cloud’s expertise in AI and its Vertex AI platform will help enable us to get to market even faster with new offerings in entirely new categories, allowing us to become even more indispensable to our customers and suppliers globally.”

“Xometry is at the forefront of the AI adoption cycle,” said Brad Little, VP, Google Cloud. “Our innovative work with Xometry to power their AI-driven digital marketplace has the potential to transform custom manufacturing, while seamlessly and efficiently connecting customers and suppliers globally.”

Xometry’s two-sided marketplace is playing a vital role in the rapid digital transformation of the manufacturing industry, connecting enterprise buyers with manufacturers who build the big ideas that fuel the global economy. Xometry’s proprietary technology shortens development cycles, drives efficiencies within corporate environments and helps stabilize supply chains to make them more resilient. Xometry’s product portfolio includes its industry leading digital marketplace, popular Thomasnet.com industrial sourcing platform and cloud-based tools, including Xometry Teamspace, centralized project management software for large, mission-critical projects.

About Xometry
Xometry’s (NASDAQ:XMTR) AI-powered marketplace, popular Thomasnet industrial sourcing platform and suite of cloud-based services are rapidly digitizing the $2.4 trillion manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to access global manufacturing capacity and create locally resilient supply chains. The Xometry Instant Quoting Engine^® leverages millions of pieces of data to analyze complex parts quickly and effectively in real-time, match buyers with the right suppliers globally and provide accurate pricing and lead times. Through its extensible marketplace, Xometry continuously scales its offerings, delivering an ever-expanding menu of manufacturing capabilities. Learn more at www.xometry.com or follow @xometry.

Media Contacts:
Matthew Hutchison
VP, Corporate Communications
415-583-2119
Matthew.hutchison@xometry.com

Illume PR for Xometry
xometry@illumepr.com

Investor Contact:
Shawn Milne
VP, Investor Relations
240-335-8132
shawn.milne@xometry.com 

FAQ

What is Xometry (NASDAQ: XMTR) partnering with Google Cloud for?

Xometry is partnering with Google Cloud to use Vertex AI to accelerate the deployment of new auto-quote methods and models within its AI-powered Instant Quoting Engine.

What will the partnership with Google Cloud help Xometry achieve?

The partnership will help Xometry expand its markets for custom manufacturing globally and digitize the manufacturing process, transforming an otherwise manual process into a real-time, AI-driven digital marketplace.

What is Xometry's role in the manufacturing industry?

Xometry's two-sided marketplace is playing a vital role in the rapid digital transformation of the manufacturing industry, connecting enterprise buyers with manufacturers who build the big ideas that fuel the global economy.