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Avnet (AVT), Digital Realty Tie Up to Develop Video Streaming

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Avnet (AVT - Free Report) recently announced that it is collaborating with Austin-based real estate investment trust, Digital Realty Trust (DLR - Free Report) , to develop high performance, cloud-based and secure universal video streaming services. The solution will enable companies and application providers to develop, launch and enhance their video broadcasting product offerings.

Avnet Integrated, which provides differentiated financial (or trade) solutions including digital storefronts, end user transactions and creative supply line solutions, will develop and scale the solutions using Digital Realty’s first-ever global data center platform — PlatformDIGITAL.

The streaming solutions will come with “try and buy” options and one-touch payment options. They will support social media-based applications, video-based eCommerce, telemedicine, video collaboration, live sports and events, auctions, gambling and sports betting.

The first solution developed under this collaboration is equipped with Advanced Micro Devices’ (AMD - Free Report) 3rd Generation AMD EPYC-based server and integrated with Xilinx’s U30 Field-Programmable Gate Array (“FPGA”) accelerator card. The solution is currently available for entertainment companies, cable companies, digital content providers, fintech, remote surgery or health care providers, and military and aerospace companies.

The latest initiative will enable Avnet’s customers to reduce their infrastructural costs for developing on-premise solutions. The application providers will now be able to scale their existing video streaming offerings and develop their own streaming solutions with a reduced cost and end-to-end quality enhancement.

Currently, Xilinx sports a Zacks Rank #1 (Strong Buy). Advanced Micro Devices has a Zacks Rank #2 (Buy), while Avnet and Digital Realty carry a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Avnet, Inc. Price and Consensus

Avnet, Inc. Price and Consensus

Avnet, Inc. price-consensus-chart | Avnet, Inc. Quote

Shares of Xilinx, Advanced Micro Devices, Avnet and Digital Realty are up 39.6%, 52.5%, 12% and 10.5%, respectively, in the year-to-date (YTD) period.

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