Shares of Domo Inc. (DOMO) are soaring 9.93% in pre-market trading on Wednesday, following the announcement of a strategic collaboration agreement with Amazon Web Services (AWS) to drive rapid adoption of generative AI solutions. This significant uptick comes just a day before Domo is scheduled to report its second-quarter earnings.

The cloud software company revealed that it has entered into a partnership with AWS to enhance the adoption of generative AI solutions. This collaboration aims to assist mutual customers in leveraging AI to create autonomous agents capable of analyzing and executing business processes independently, thereby automating complex workflows with robust security and governance. The partnership builds on the longstanding relationship between Domo and AWS, which includes data integration with Amazon Redshift, AWS Data Exchange listings, and competencies in AWS Machine Learning.

Investors appear to be reacting enthusiastically to this development, seeing it as a strategic move that could bolster Domo's competitive position in the rapidly evolving AI market. The timing of this announcement, just ahead of the company's earnings report, has added to the excitement surrounding Domo's stock. Market participants will be keen to hear more details about this partnership and its potential impact on Domo's future performance during the upcoming earnings call scheduled for Thursday.