MDB - MongoDB rises as it unveils Google Cloud deal several new Atlas products features

2023-06-22 11:35:53 ET

MongoDB ( NASDAQ: MDB ) shares rose more than 5% on Thursday after the database company unveiled an expanded partnership with Google's ( GOOG ) ( GOOGL ) cloud unit and several new products and features geared towards its Atlas platform.

MongoDB ( MDB ) said the expanded deal with Google Cloud will help accelerate the use of generative artificial intelligence and result in the building of new gen-AI applications with expert assistance and professional services via Google ( GOOG ) ( GOOGL ) Cloud's Vertex AI large language models.

"This new initiative from Google Cloud and MongoDB will bring more capabilities, support, and resources to developers building the next generation of generative AI applications," Kevin Ichhpurani, Corporate Vice President, Global Ecosystem and Channels at Google Cloud said in a statement.

In addition, MongoDB ( MDB ) made several other announcements at its New York developer conference on Thursday, including the general availability of its app migration tool MongoDB Relational Migrator.

MongoDB ( MDB ) also said it is adding new four capabilities for developers, including programming language support for resources on Amazon Web Services using infrastructure-as-code.

The company also announced a new program known as MongoDB Atlas for Industries, which lets companies accelerate their cloud adoption and modernization programs, along with an AI innovator program to help with generative AI and five new capabilities for MongoDB Atlas.

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