Atomos will expand its Cloud Studio with its own browser-based video editing feature. This will allow videos uploaded via Atomos Connect to be edited directly in the cloud and then published on YouTube or Vimeo without having to download the material to a local computer. However, Atomos Edit is apparently not a proprietary development, but is based on Axle AI&s already available Axledit.
Axledit
Atomos Edit is supposed to offer a professional editing interface with multiple video and audio tracks and also support adding effects and transitions as well as importing stock video. The editor is further designed for teamwork, meaning multi-user editing is supported. To prevent simultaneous access to the timeline, it can also be locked. Review, comment and approval functions are also included for a collaborative workflow.
Atomos is thus clearly positioning itself as a competitor to Frame.io / Adobe, for whom it has so far acted as a supplier via its Connect upload - forced, you might say, because Adobe, for its part, is already pushing native camera-to-cloud integrations, which in turn do not require any additional hardware, such as from Atomos.
It appears, however, that some of the new editing functionality will cost extra for Atomos Cloud Studio users - in addition to a free version, there will be subscription versions for and per month, respectively. Atomos does not (yet) specify how these will differ, but cloud editing does require storage space, and that is not currently part of the Atomos Cloud Studio offering. Atomos will then have to provide this either via Axle AI or itself; both mean additional costs.
Atomos Edit will be shown in a beta version at NAB in Las Vegas, which starts tomorrow - it is not known when the cloud edit will officially launch. Those who are not at NAB can take a closer look at the underlying 
Axledit; the range of functions sounds very similar.
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