(Updates with stock movement in headline and first paragraph.)

Planet Labs (PL) shares rose 7.2% in Thursday trading, a day after the company launched Amazon.ia - Inteligencia Ambiental, a multipartner initiative to produce biodiversity intelligence for conservation and restoration across the Amazon.

The initiative is backed by more than two dozen partners, including the Bezos Earth Fund, which granted more than $14 million across the Andes Amazon Fund and World Resources Institute to support the effort, Planet Labs said.

Amazon.ia will combine satellite imagery with ground-collected data and use AI to track biodiversity and ecosystem health, providing information to scientists, conservation groups, governments and local communities, the company said.

Price: 17.56, Change: +1.18, Percent Change: +7.20