Dropbox To Acquire Tigris Data

(RTTNews) - On Thursday, Dropbox (DBX) plans to acquire Tigris Data, an object storage platform designed for AI workloads, to expand its AI infrastructure business.

The company also introduced DBX Agent Cloud, a new storage and data infrastructure offering, and upgraded its core product with AI features integrated into users' existing files and workflows.

The announcements expand Dropbox beyond file storage and sharing, providing AI infrastructure for developers and new AI tools for existing customers.

Users can perform tasks on their files, access Dropbox content through supported third-party AI tools and choose AI models while retaining existing file permissions, history and collaboration features.

On the Nasdaq, the shares were trading 0.36 percent up at $36.23.