DROPBOX is Working With NVIDIA and That Makes the AI Ambitions Around Dropbox AI and Dash More Credible!

Dropbox has a user base of over 700 million registered users. They entrust their documents to the company. However, only 18.17 million users have a paid Dropbox subscription. The company is trying to change this by using AI to make work more productive. The first step is Dropbox Dash, an AI-based universal search that takes into account all applications on the computer. Many people struggle with fragmented content. Dropbox is addressing a $7 billion market that could triple over the next four years. Dropbox Dash, on the other hand, is designed to summarize content, including videos, and provide answers to users' questions about document content. With these AI tools, the monetization of users could gain momentum.

The fact that Dropbox is serious about its AI ambitions is made clear by today's collaboration with NVIDIA. The aim is to expand the AI functions with new applications for personalized generative AI in order to improve search accuracy and simplify workflows. Dropbox plans to leverage NVIDIA's AI Foundry, consisting of NVIDIA AI Foundation Models, NVIDIA AI Enterprise Software and NVIDIA Accelerated Computing, to enhance its latest AI-powered products. "Recent advances in generative AI are opening up a world of possibilities to improve knowledge work and solve many of the problems we all face in organizing, prioritizing, and focusing," said Drew Houston, co-founder and CEO of Dropbox. Dropbox will now be able to accelerate the work of its customers with AI.

The Dropbox share is in a major correction. FCF of $1 billion will also be generated in 2024, allowing the company to bridge the time until growth accelerates with substantial share buybacks. $1.5 billion is already available for this purpose.

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