[Asia Economy Reporter Park Hyungsoo] Bitnine is showing strong performance. The expectation that global IT companies will benefit as they compete to dominate the artificial intelligence (AI) market appears to be influencing the stock price.
As of 11:06 AM on the 25th, Bitnine is trading at 10,540 KRW, up 13.21% from the previous trading day.
Founded in 2013, Bitnine is the only company in Korea possessing graph database (DB) technology. It owns AgensGraph, the world's first multi-model DB that combines relational DB and graph DB. The core technology, graph DB, has the advantage of intuitively understanding relationships between entities and meaningfully displaying interactions among them. It offers faster computation speed and higher usability compared to relational DB.
Bitnine developed the world's first hybrid graph database that integrates relational databases and graph databases. By enabling the use of the widely used relational database together with the newly adopted graph database, it provides a solution that existing customers can use easily and conveniently.
Kim Doohyun, a researcher at Hana Securities, explained, "Bitnine demonstrates overwhelming speed compared to competitors in relational DB, securing a technological edge," and added, "It has secured over 50 global clients including Intel and Samsung SDI."
He continued, "The company is expanding its scale through overseas business expansion and increased license sales," and added, "'Apache AGE,' which was promoted to a top-level project (TLP) of the Apache Foundation?the largest open-source foundation?is a graph DB program with excellent compatibility with existing relational DB."
Furthermore, he emphasized, "The US and Europe, where Bitnine has overseas subsidiaries and branches, have a larger and more mature graph DB market compared to Korea," and "With increasing demand for graph DB from clients, Bitnine's overseas business expansion is expected to be possible due to its AI-related patents."
Bitnine has supplied graph DB solutions to global companies such as Verizon and Ericsson. Through its product Apache AGE, compatible with all relational databases, it has competitiveness in entering overseas markets.
Graph databases are among the core technologies used in the 4th industrial revolution markets such as AI, big data, blockchain, and metaverse, as data utilization has recently increased. Amazon Web Services (AWS), Google, Meta, and Microsoft provide various services based on this technology.
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