Innodata Secures New $44 Million Annual Revenue Programs from Major Tech Client

Innodata Inc. (NASDAQ: INOD), a leading data engineering company, has announced the acquisition of two new large language model (LLM) development programs from an existing "Magnificent Seven" Big Tech client. These new initiatives are expected to generate approximately $44 million in annualized run rate revenue. This development follows recent additional program awards and expansions announced in April and May.

CEO Jack Abuhoff expressed enthusiasm for the new programs, citing ongoing discussions for further potential collaborations. Abuhoff emphasized the client's trust in the high-quality data provided by Innodata, critical for fine-tuning LLM models.

Innodata has been a key player in supporting leading tech companies in their AI endeavors for over 30 years. Abuhoff highlighted the significant growth opportunities ahead in the LLM and generative AI sectors.