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18h ago

Elastic Seals Jina AI Deal, Launches GPU Inference Service, Authorizes $500 Million Buyback

Shares climbed as Elastic aimed to speed enterprise search, RAG workloads by pairing Jina’s open‑source models with GPU acceleration.

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Overview

  • Elastic finalized the purchase of Jina AI and named former Jina CEO Han Xiao as vice-president of AI.
  • The new Elastic Inference Service uses NVIDIA GPUs and debuts with the ELSER model in technical preview, with Jina models expected to follow.
  • Elastic says EIS can deliver up to 10x faster processing than CPU-based options and is priced by consumption per million tokens.
  • The service is available on Serverless and Elastic Cloud Hosted deployments to support production inference workloads.
  • ESTC shares jumped about 8% after hours on Thursday and rose 6.7% to $87.01 on Friday after the announcements, which also included a buyback authorization of up to $500 million with no set expiration.