Adobe’s Stock Soars on AI Advancements and New Creative Cloud Features

Adobe Inc. (ADBE) shares are experiencing a surge on Monday, fueled by the company’s unveiling of several groundbreaking launches at the Adobe MAX 2024 event. Key highlights include the expansion of Adobe Firefly generative AI models to include video, new features in Creative Cloud powered by AI, and the launch of Adobe GenStudio for Performance Marketing. The company also announced a global initiative to equip learners and teachers with AI literacy skills.

Adobe’s Generative AI Push: A Potential Catalyst for Recovery Amidst Macro Challenges

Despite facing macroeconomic headwinds and intense competition, Adobe’s (ADBE) focus on generative AI (GenAI) presents a potential catalyst for recovery. Its Firefly family of creative GenAI models is driving significant growth, attracting a vast customer base and bolstering future projections. However, uncertainties in the economy and intense competition in the AI software space present challenges for the stock.

Adobe Premiere Pro Still Missing on Arm PCs, Despite Progress in Other Apps

While Microsoft’s push for Windows on Arm has been successful, a major hurdle remains: the lack of Adobe Premiere Pro support on Snapdragon X chips. While other Adobe apps like Photoshop and Lightroom have been ported, Premiere Pro, After Effects, and Media Encoder are still unavailable. Despite Adobe’s commitment to supporting Arm, the expected July release has been missed, leaving video editors on Arm PCs in the lurch. However, progress is being made with beta versions of Illustrator and InDesign now available on Arm, indicating Adobe’s dedication to completing its full app lineup for Snapdragon X chips.

Scroll to Top