Unity announces AI marketplace: ‘I think A.I. will change gaming’

Shares of Unity Software Inc (NYSE: U) gained nearly 15% on Tuesday after the video game software company announced an AI marketplace.

Unity expands its footprint in A.I.

Customers of the San Francisco-headquartered firm will now be able to pick from a list of software that can use artificial intelligence to accelerate game development and enhancement.

In an interview with “The Washington Post”, CEO John Riccitiello said:

It’s exciting also for the A.I. companies that will get to charge for software they’ll distribute to developers via the Unity Asset Store. At writing, Unity shares are up a whopping 55% versus the start of 2023.

Wells Fargo recommends buying Unity stock

Also on Tuesday, Brian Fitzgerald – a Wells Fargo analyst turned bullish on Unity shares and announced a price objective of $48 that suggests another 14% upside from here.

A growing total addressable market and mobile cross-sell opportunity were among other reasons cited for the bullish view on the tech stock.

The stock market news arrives more than a month after Unity Software reported better-than-expected revenue for its fiscal first quarter and issued upbeat guidance for the future.