Agora, Inc. (API) shares surged 5.38% in intraday trading on Tuesday, following the company's acquisition of blockchain governance startup Boardroom. The move aims to enhance decision-making and coordination in the crypto space using artificial intelligence (AI).

With the Boardroom acquisition, Agora plans to leverage AI capabilities to improve governance within the broader Ethereum ecosystem and decentralized autonomous organizations (DAOs). AI can significantly boost the effectiveness and efficiency of DAO governance platforms through large dataset analysis, outcome prediction, and process automation.

Agora, a software application company, offers a real-time engagement platform with APIs for embedding voice, video, live-streaming, and AI capabilities into applications. The Boardroom deal aligns with Agora's strategy of harnessing AI to enhance its offerings, particularly in emerging areas like blockchain and crypto.