Why Is Veritone's Stock Trading Higher Today?

Veritone Inc VERI is trading higher Thursday after the company announced a new exclusive international licensing agreement with CBS News.

The three-year exclusive international agreement is expected to increase access to millions of hours of archival and breaking news content.

“Veritone has long been committed to improving the search and accessibility of content for the media and entertainment industry,” said Ryan Steelberg, president of Veritone. “We are thrilled to see our advancements in artificial intelligence-powered search and discovery utilized by CBS News for uncovering and identifying their archives."

Veritone is a cloud-based cognitive software company with a proprietary artificial intelligence platform that unlocks the power of cognitive computing, transforming unstructured audio and video data.

VERI Price Action: Veritone has traded as high as $50.33 and as low as $7.88 over a 52-week period.

The stock was up 15.50% at $24.88 at time of publication.