Technology
Next Generation Lithium Batteries Market to Grow by USD 72 Billion from 2024-2028, Driven by Strategic Partnerships and AI Impact on Trends- Technavio Report
Published
2 years agoon
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NEW YORK, Sept. 12, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global next generation lithium batteries market size is estimated to grow by USD 72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 18.77% during the forecast period. Rise in strategic partnership among market vendors is driving market growth, with a trend towards increase in research and development efforts toward creating more advanced battery chemistries. However, increase in concerns regarding material availability and high cost of next generation lithium batteries poses a challenge. Key market players include Amprius Technologies Inc., Aquion Energy, Bollore SE, BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., Enevate Corp., Enovix Corp., Farasis Energy GanZhou Co. Ltd, GS Yuasa International Ltd., Ilika, Johnson Controls International Plc., Johnson Matthey Plc, LG Corp., Lohum Cleantech Pvt. Ltd., Lyten Inc., Northvolt AB, Panasonic Holdings Corp., ProLogium Technology Co. Ltd., Rimac Group Ltd., Samsung SDI Co. Ltd., Solid Power Inc., StoreDot., and Sunwoda Electronic Co. Ltd..
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Next Generation Lithium Batteries Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 18.77%
Market growth 2024-2028
USD 72 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
16.48
Regional analysis
APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution
APAC at 48%
Key countries
China, US, Germany, Japan, and France
Key companies profiled
Amprius Technologies Inc., Aquion Energy, Bollore SE, BYD Co. Ltd., Contemporary Amperex Technology Co. Ltd., Enevate Corp., Enovix Corp., Farasis Energy GanZhou Co. Ltd, GS Yuasa International Ltd., Ilika, Johnson Controls International Plc., Johnson Matthey Plc, LG Corp., Lohum Cleantech Pvt. Ltd., Lyten Inc., Northvolt AB, Panasonic Holdings Corp., ProLogium Technology Co. Ltd., Rimac Group Ltd., Samsung SDI Co. Ltd., Solid Power Inc., StoreDot., and Sunwoda Electronic Co. Ltd.
Market Driver
The next generation lithium batteries market has seen a significant in research and development initiatives to create advanced battery chemistries. This focus on innovation reflects the industry’s commitment to delivering high-performance, sustainable, and cost-effective energy storage solutions for various applications, including electric vehicles (EVs), renewable energy integration, consumer electronics, and grid-scale energy storage. The primary objective is to overcome the limitations of traditional lithium-ion batteries, such as energy density, charging speed, cycle life, and safety. Researchers are investigating alternative materials, advanced electrolytes, and innovative cell designs to achieve breakthroughs in energy storage technology. The global push towards sustainable energy and electrification is fueling the demand for advanced battery chemistries. Governments, industry stakeholders, and research institutions are investing heavily to develop next-generation lithium batteries offering higher energy densities, faster charging capabilities, longer cycle lives, and enhanced safety profiles. Materials science, nanotechnology, and electrochemistry advancements provide opportunities for creating innovative battery chemistries, such as solid-state electrolytes, lithium-sulfur, sodium-ion, and metal-air batteries. Collaboration between academia, industry, and government agencies is also crucial in driving research and development efforts towards advanced battery chemistries. For instance, the Indian Institute of Technology (IIT) Kanpur and LOHUM cleantech Pvt. Ltd partnership aims to improve the sustainability of lithium-ion batteries through academic research and development. Such collaborations are expected to positively impact the growth of the next generation lithium batteries market.
Next-Generation Batteries are making waves in various industries, including electric vehicles (EVs), smart appliances, and electronic gadgets. Traditional batteries like Nickel-metal hydride, Nickel cadmium, and Lithium-ion batteries are being replaced by advanced technologies. Lithium Sulphur (Li-S), Magnesium Ion, and Solid Electrolyte batteries are trending. These new batteries offer longer runtimes, higher power density, and improved safety. The electric vehicle market, consumer electronic appliances, and e-mobility industry are major consumers. Companies like Hyundai Motor and General Motors are investing in Next-Generation advanced batteries for their EVs. The semiconductor industries, aerospace and defense, industrial, oil and gas, and transportation sectors are also adopting these advanced batteries. Ultra-capacitors and Metal Air batteries are also gaining attention for their unique features. Cylinder lithium-ion batteries are popular for their compact size and long life. Next-Generation Flow Batteries and Aluminum-air batteries are promising solutions for clean energy storage. Next-Generation batteries are transforming the battery market, with applications ranging from portable electronics and consumer devices to energy storage systems. The future looks bright for these advanced batteries, with drone flying time and improved performance in electric cars (EVs) being significant benefits.
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Market Challenges
The next generation lithium batteries market is experiencing challenges due to material availability issues and high costs. The reliance on critical raw materials like lithium, cobalt, nickel, and rare earth elements in advanced battery chemistries has resulted in supply chain constraints, price volatility, and concerns about resource availability. Geopolitical factors, market disruptions, and ethical sourcing considerations further complicate the material supply chain, creating uncertainties around the stability and sustainability of procuring key battery components. Additionally, the high costs associated with developing next generation lithium batteries with improved energy densities, faster charging capabilities, and enhanced performance necessitate significant investments in research, development, and manufacturing processes, driving up production costs and pricing barriers for end-users. These challenges have influenced investment decisions, technology roadmaps, and strategic planning within the market. Companies are diversifying material sourcing, improving supply chain resilience, and exploring alternative chemistries and materials to mitigate risks associated with material constraints and price fluctuations. Policymakers, industry associations, and stakeholders are addressing supply chain vulnerabilities, supporting domestic sourcing initiatives, incentivizing recycling and circular economy practices, and promoting investments in sustainable material extraction and processing technologies to ensure the long-term viability and competitiveness of next generation lithium batteries. Despite these challenges, the market is expected to grow due to the increasing demand for advanced battery technologies in electric vehicles, renewable energy systems, and consumer electronics.Next-Generation Lithium Batteries: Overcoming Challenges in Consumer Electronics, E-Mobility, and Energy Storage The global market for Next-Generation Lithium Batteries is growing rapidly, driven by the need for higher energy density, longer runtimes, and improved safety in various industries. In consumer electronics, longer battery life is essential for laptops, mobile phones, cameras, and drones. In the electric vehicle market, advancements in battery technology are crucial for extending flying time for drones and improving the range of electric cars (EVs) from companies like Hyundai Motor and General Motors. Semiconductor industries, clean energy, and industrial applications also require Next-Generation advanced batteries for high-performance and renewable energy storage. Challenges include developing batteries with higher power density, such as Magnesium Ion Battery, Next-Generation Flow Battery, Solid Electrolyte Battery, and Metal Air Battery. Aerospace and defense, oil and gas, transportation, and consumer electronics sectors are all investing in these advanced technologies. Gigafactories are being built to mass-produce Li-Ion batteries, replacing older technologies like Ni-Cd batteries and Ni-metal hydride. Companies like Tesla, Panasonic, and LG Chem are leading this charge. The automotive sector, in particular, is undergoing a transformation with the rise of electric vehicles, making the development of next-generation batteries a priority.
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Segment Overview
This next generation lithium batteries market report extensively covers market segmentation by
Application1.1 Automotive1.2 Consumer electronics1.3 Energy storage systems1.4 Aerospace and defense1.5 OthersType2.1 Advanced lithium-ion batteries2.2 Lithium-sulfur batteries2.3 Lithium-air batteriesGeography3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa
1.1 Automotive- The Next Generation Lithium Batteries market is experiencing significant growth due to increasing demand for electric vehicles and renewable energy storage. Companies are investing heavily in research and development to improve battery efficiency and longevity. Key players include Tesla, LG Chem, and Panasonic. Advancements in technology, such as solid-state batteries and graphene anodes, are expected to drive market growth. The market size is projected to reach USD129.3 billion by 2027.
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Research Analysis
Next Generation Batteries refer to advanced energy storage solutions that offer improved performance, longer life, and greater energy density compared to traditional batteries. These include Nickel-metal hydride, Ultra-capacitors, Lithium Sulphur (Li-S), Magnesium ion, and Lithium ion (Li) batteries. Li-ion batteries are currently dominating the market due to their high energy density and wide usage in Electric Vehicles (EVs) and consumer devices like smartphones and laptops. Other emerging technologies like Lithium sulfur, Solid electrodes, Metal air, and Aluminium-air batteries are expected to revolutionize the industry with their unique features. Next-Generation advanced batteries are crucial for high-performance applications, renewable energy storage, and electric mobility. Companies are investing heavily in research and development and setting up Gigafactories to meet the growing demand for these advanced batteries. The market is expected to grow significantly in the coming years, driven by the increasing adoption of EVs and the need for reliable renewable energy storage solutions.
Market Research Overview
Next Generation Batteries refer to advanced battery technologies that offer improved performance, longer life, and greater energy density compared to traditional batteries. These include Nickel-metal hydride, Ultra-capacitors, Lithium Sulphur (Li-S), Magnesium Ion, Lithium ion (Li), and Nickel cadmium (Ni-Cd. Next-Generation Flow Battery, Solid Electrolyte Battery, Metal Air Battery, and Magnesium Ion Battery are some of the emerging battery technologies. These batteries are finding applications in various sectors such as Electric vehicles, Smart appliances, Consumer electronic appliances, E-mobility industry, Semiconductor industries, and Battery market. Next-Generation advanced batteries are essential for clean energy, enabling longer drone flying time, powering Electric cars (EVs) and Energy storage systems. The market for these batteries is growing rapidly, driven by the demand from the Automotive sector, Aerospace and defense, Industrial, Oil and gas, Consumer electronics, Transportation, and Renewable energy storage. Key applications of Next-Generation batteries include Electric vehicles, Smartphones, Laptops, Mobile phones, Cameras, and Portable electronics. Companies are investing heavily in Gigafactories to produce these high-performance batteries, with Hyundai Motor and General Motors being some of the major players. Other emerging battery technologies include Aluminium-air batteries, which offer high energy density and low cost, and Solid electrodes, which provide improved safety and longer cycle life. The future of battery technology is exciting, with continuous research and development leading to new innovations and applications.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ApplicationAutomotiveConsumer ElectronicsEnergy Storage SystemsAerospace And DefenseOthersTypeAdvanced Lithium-ion BatteriesLithium-sulfur BatteriesLithium-air BatteriesGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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ImageTrend CFO John Wolfenden Accepted Into Forbes Finance Council
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Invitation-only professional community selects finance leader based on the depth and diversity of his experience
EAGAN, Minn., July 24, 2026 /PRNewswire/ — ImageTrend, the leading provider of software and AI intelligence for emergency response, healthcare and public safety organizations, today announced that Chief Financial Officer John Wolfenden has been accepted into the Forbes Finance Council.
The Forbes Finance Council brings together executives, investors, and market operators who help shape how capital is allocated, managed, and protected in increasingly complex environments. The invitation-only members are vetted by a selection process that evaluates professional experience, leadership, and industry expertise.
Wolfenden was selected following a review of his experience as CFO of multiple software companies and his track record of strengthening financial operations, improving business processes and supporting growth. At ImageTrend, he leads the finance function and serves as a strategic partner across the business as the company advances its AI-powered platform and supports more than 11,000 agencies.
Recognized Finance Leadership
Across his CFO roles, Wolfenden has focused on operational improvement, business growth and building finance functions that serve as strategic partners across the organization. At ImageTrend, he plays a critical role in the executive leadership team, overseeing financial strategy and operations and helping the company build the scalable foundation required for long-term growth.
“John’s impact at ImageTrend goes well beyond the finance function,” said Joe Graw, Interim Chief Executive Officer and Chief Growth Officer. “He brings financial discipline, commercial perspective and a roll-up-your-sleeves approach to the decisions that shape how we grow and serve our customers. His selection for Forbes Finance Council is well deserved and gives him a valuable platform to share that expertise with other finance leaders.”
Contributing to a Selective Finance Community
As a council member, Wolfenden will join a curated peer community and have opportunities to work with an editorial team to share expert insights in original articles and contribute to Expert Panels on Forbes.com. He plans to share lessons from scaling software organizations and strengthening finance operations.
“I am honored to have been selected to join Forbes Finance Council,” said Wolfenden. “I look forward to exchanging ideas with other finance leaders and learning from their experiences. I have always believed that finance should work closely with every part of the business, helping teams solve problems and make sound decisions. I am excited to bring what I learn back to ImageTrend as we continue improving how we operate and supporting the company’s growth.”
For more information about ImageTrend, visit www.imagetrend.com.
About ImageTrend
ImageTrend helps emergency response teams who struggle with documentation overload by giving them one AI-powered operating system so they can command with confidence and protect more lives with better decisions.
Founded in 1998, the company serves more than 11,000 agencies in the United States, Canada and United Arab Emirates across Fire, Emergency Medical Services, and Hospital segments. With its deep industry knowledge and advanced data analytics capabilities, the software provider helps its customers streamline operations, shape long-term strategies, and dramatically improve outcomes. Its AI-embedded product solutions and dedicated team provide the intelligence and confidence that first responders need to tackle today’s challenges and prepare for tomorrow’s uncertainties.
About Forbes Councils
Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.
To learn more about Forbes Councils, visit https://councils.forbes.com.
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SOURCE ImageTrend LLC
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Okuma America Corporation to Exhibit at IMTS 2026 with Comprehensive Lineup
Published
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July 24, 2026By
Newly Designed Machines, Open-architecture CNC Control, Multiple Automation Systems, Intelligent Technologies, World-Class Services, Sustainable Initiatives, & More to be Featured
CHARLOTTE, N.C., July 24, 2026 /PRNewswire/ — The leadership team at Okuma America Corporation, a global leader and single-source builder of computer numeric control (CNC) machine tools, controls, and automation systems, is excited to announce the company’s exhibition plans for the 2026 International Manufacturing Technology Show (IMTS) to be held in Chicago, Illinois, from September 14 to 19, 2026.
Within its 17,000 square-foot booth, the company plans to showcase a comprehensive offering for the metalworking industry featuring new CNC machine tools, an industry-leading CNC control, a robust line of automation systems, intelligent manufacturing technologies, new world-class services, and more. Okuma America Corporation will host a media event in the South Hall (Booth #338500) on Tuesday, September 15 at 2:00 pm to highlight the company’s IMTS offerings, share insights from the Okuma leadership team, and showcase latest technologies during booth tours.
New & Notable
Four CNC Machines to Make Americas Debut
Of the 11 CNC machine tools Okuma will exhibit at IMTS 2026, four will make their debut in the Americas:
NEW – Okuma MB-100V Vertical Machining CenterNEW – Okuma GENOS M4000H-e Horizontal Machining CenterNEW – Okuma MS-320H Horizontal Machining CenterNEW – Okuma MULTUS U1000 Multitasking Lathe
Okuma Factory Automation and Peripherals
Okuma will present a comprehensive lineup of automation systems developed by the Okuma Factory Automation (OFA) Group, along with best-in-class solutions from its industry partners, all of which seamlessly integrate with Okuma machines. Leading the charge on automation innovation, Okuma is partnering with Intrinsic AI to display an AI automation robot cell. The company is pleased to announce that 9 of its 11 IMTS 2026 CNC machine tools will be paired with automation systems, including three solutions making their debut in the Americas:
NEXT GENERATION – Okuma Robot Loader (ORL) Series Enhancements & Additions – easy-to-integrate robotic systems designed to load and unload workpieces from machinesOkuma Robot Loader Drawer II (ORL-D II)Okuma Robot Loader for Machining Centers (ORL-MC II) with palletOkuma Robot Loader Plus with Pallet (ORL+) – a system designed to perform multiple functionsNEW – Okuma Tower Pallet Changer – vertical, two-level pallet changer with 13-pallet capacityNEW – Modular Automatic Tool Changer
NEW Virtual Reality Experience
Okuma will provide IMTS 2026 attendees with the opportunity to explore various Okuma machine models in a virtual reality environment. A dedicated area within the Okuma booth (booth #338500) will be available for participants to wear a virtual reality headset to view, walk around, and interact with a virtual 3D model of various Okuma CNC machine tools. This includes models beyond what is physically being exhibited within the booth, such as the MCR-A5CII double column machining center.
NEW Explore the Okuma Global Repair Center
Okuma is thrilled to share details of its newly constructed Global Repair Center at its headquarters campus in Charlotte, NC. The 35,000 square-foot facility brings mechanical and electrical repair, component exchange, upgrades, and legacy part fabrication together in a new, state-of-the-art building that is four times larger than previous dedicated space. Backed by advanced inspection, testing, CNC simulation, and thousands of ready-to-ship parts, the facility maximizes uptime, safeguards Okuma users’ investment, and reinforces Okuma’s promise to Passionately Pursue a Customer for Life. Booth visitors may explore the new facility via a 3D-printed model and watch a video of the facility’s impressive operations.
NEW Tribute to America 250
Okuma is pleased to recognize and celebrate the 250th anniversary of the United States of America with several tributes within its booth experience. Booth visitors can see an intricately-crafted Bald Eagle which is being created on the Okuma MU-8000V vertical machining center. Additionally, the company will also reward attendees who complete an in-booth survey with an exclusive baseball hat that features an American flag design element. Also, the GENOS M4000H-e horizontal machining center, which will be making its Americas Debut, will feature a one-of-a-kind patriotic graphics theme, produced by the company’s NASCAR partner, Richard Childress Racing.
Okuma Machine Featured in Partner Booth
Okuma is proud to partner with 50+ companies in the manufacturing industry through our Partners in Technology program, many who will be featured in demonstrations throughout the Okuma booth. Several program members are also exhibiting at IMTS 2026, including Air Turbine Tool. They will feature an Okuma GENOS M560-V vertical machining center in working display at their booth (#431645).
Comprehensive Technology Lineup
Okuma will showcase 11 CNC machine tools at the show, representing a wide range of the company’s vast product lines. Among these are four new products making their Americas debut. Additionally, ten unique automation systems will be on display, including three proprietary innovations from Okuma Factory Automation. The distinctive OSP-P500 control system will be featured on 9 of the 11 CNC machines in the booth, as well as on free-standing interactive simulators. Okuma will also highlight key components of its world-class service and support program.
Okuma’s complete IMTS 2026 machine, control, and automation lineup includes:
Okuma Machining Centers
Paired Automation System
GENOS M4000H-e – NEW
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MB-100V – NEW
MB-5000HII
Okuma Tower Pallet Changer
MS-320H – NEW
Okuma Robot Loader Drawer II (ORL-D II)
MU-8000V
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GENOS M460V-5AX (5-axis)
Okuma Robot Loader Machining Center II (ORL-MC II) & Modular Automatic Tool Changer (ATC)
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Okuma Robot Loader Plus with pallet (ORL+)
LT2000 EX 3T3MY
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Okuma Best-in-Class Distributor Network
In support of Okuma’s mission of ‘Passionately Pursuing a Customer for Life’, Okuma has created strategic relationships with best-in-class distributorships to support customer needs within their local regions of operation. Representatives from each of Okuma’s distributors will be onsite at IMTS 2026.
Okuma Partners in Technology
Okuma’s Partners in Technology network brings together 50+ companies that represent best-in-class manufacturing solutions and technologies that pair perfectly with Okuma CNC machine tools.
For more information on Okuma’s IMTS offering, visit www.okuma.com/imts.
About Okuma America Corporation
Okuma America Corporation is the U.S.-based sales, marketing, engineering, and service affiliate of Okuma Corporation, a world-leading builder of CNC (computer numeric control) machine tools, controls, and automation systems. The company was founded in 1898 in Nagoya, Japan, and is the industry’s only single-source provider of CNC machines, drives, motors, encoders, spindles, and automation systems, all manufactured by Okuma. The company designs its own CNC controls to integrate seamlessly with each machine tool’s functionality. In 2014 Okuma launched the Okuma App Store, the industry’s only centralized online marketplace for machine tool apps and related content at that time. Along with its extensive distribution network (largest in the Americas), and Partners in Technology network of enhanced manufacturing technologies, Okuma is committed to helping users gain competitive advantage through the open possibilities of machine tools today and into the future. For more information, visit Okuma.com or follow us on Facebook, Instagram, LinkedIn and X.
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SOURCE Okuma America Corporation
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TrendAI™ Adopts Claude Opus 5 to Advance Vulnerability Prioritization, Assessment, and Virtual Patching
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DALLAS, July 24, 2026 /PRNewswire/ — TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced it is adopting Claude Opus 5, Anthropic’s latest and most capable Opus model, to help security teams convert vulnerability intelligence into immediate protection, from prioritization and assessment through to virtual patching. The move builds on TrendAI’s collaboration with Anthropic on Claude Opus 4.8, extending the same defensive focus to a model that delivers step-change gains in advanced reasoning, agentic workflows, and long-horizon analysis. As AI makes finding vulnerabilities easier than ever, the harder problem becomes protecting organizations faster than software can be permanently patched, and that is where TrendAI is putting Opus 5 to work.
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TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. Through deep ecosystem partnerships with market leaders like NVIDIA, Anthropic, AWS, Google, and Microsoft, TrendAI™ empowers your organization to securely drive forward at the speed of AI. AI Fearlessly. Learn more: trendaisecurity.com
About Anthropic
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