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Magnificent 7's AI Spend Accelerates: Can it Push INOD Stock Higher?

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Key Takeaways

  • INOD's DDS unit made up 87% of Q1 revenues, supporting top tech firms with AI model training and scoring.
  • INOD supports five of the Magnificent 7 as AI budgets surge across major hyperscalers.
  • A new LLM testing platform built on NVIDIA tech aims to boost INOD's role in Big Tech's GenAI validation.

Innodata (INOD - Free Report) provides Generative AI GenAI-focused services through its Digital Data Solutions segment, which contributed 87% of total revenues in the first quarter of 2025. INOD supports leading technology platforms with training data creation, reinforcement learning, model scoring and safety validation. The company operates across domains including enterprise software, healthcare, math and multilingual natural language processing use cases. The Zacks Consensus Estimate for second-quarter 2025 revenues is pegged at $56.36 million, up 70.8% year over year.

Momentum is expected to build as the Magnificent 7, which includes Meta Platforms, Apple, Alphabet, Amazon, Microsoft, Nvidia, Tesla and Apple ramp up AI infrastructure investments. Microsoft plans to invest $80 billion in fiscal 2025, Meta expects to spend between $64 and $72 billion, and Amazon is targeting $54 billion. These rising budgets reflect a growing focus on foundational model scaling, infrastructure optimization, and model validation.

Innodata currently supports five of the seven hyperscalers. During the first quarter, INOD secured eight million dollars in new Big Tech deals and signed a second statement of work with its largest client, tied to a dedicated AI budget. These developments reflect growing reliance on INOD for GenAI model evaluation and training services, especially as hyperscalers prioritize output quality, safety scoring and deployment-readiness at scale.

INOD has launched a GenAI Test and Evaluation Platform focused on Large Language Model (LLM) validation and risk benchmarking. The platform, built on NVIDIA’s NIM microservices, enables testing for hallucination, prompt-level adversaries and reliability scoring. With MasterClass as the first customer and a broader rollout planned through a global consulting partner in the second half of 2025, the platform positions Innodata to deepen integration with Big Tech’s next wave of GenAI investment.

INOD Faces Stiff Competition

Innodata’s Digital Data Solutions segment is facing intensifying competition from TaskUs (TASK - Free Report) and Palantir Technologies (PLTR - Free Report) , both expanding their GenAI capabilities. TaskUs is emerging as a direct rival with its focus on model evaluation, data labelling and LLM safety testing. TaskUs is targeting key industries like tech, healthcare and finance with a growing suite of high-accuracy annotation workflows and scalable AI assurance solutions that overlap with Innodata’s core offerings.

Palantir is building momentum with domain-specific LLM platforms and AI operating systems tailored to regulated industries. By integrating decision-intelligence tools into enterprise workflows, Palantir is positioning itself as a strategic GenAI partner for large organizations. These advancements from TaskUs and Palantir signal growing competitive pressure as Innodata looks to scale with Big Tech clients.

INOD’s Share Price Performance, Valuation and Estimates

INOD shares have jumped 20.8% year to date, while the broader Zacks Computer & Technology sector appreciated 9.5% and the Zacks Computer - Services industry grew 0.4%.

INOD’s Performance

Zacks Investment Research
Image Source: Zacks Investment Research

Innodata stock is trading at a premium, with a forward 12-month Price/Sales of 5.55X compared with the industry’s 1.75X. INOD has a Value Score of F.

INOD’s Valuation

Zacks Investment Research
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Innodata’s 2025 earnings is pegged at 69 cents per share, unchanged over the past 30 days. The figure marks a decline of 22.47% from fiscal 2024’s earnings.

Innodata currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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