Robo.ai Stock Soars On $300M Investment Commitment

Shares of Robo.ai (AIIO) jumped 23% on Tuesday morning after the company announced that a consortium led by Burkhan Capital has committed $300 million in investment into the company.

The transaction is expected to close within the next 30 calendar days, provided customary conditions are met, the company said. The investment will be used for U.A.E.-based Robo.ai’s platform that integrates smart devices into an AI-enabled ecosystem populated by blockchain, it said. The capital will also be used to strengthen the company’s market presence in the Middle East region and potentially expand into the global markets, including North America, Europe, and South Asia, it added.

Burkhan Capital is a global investment firm that invests in AI and technology ventures. With offices in Miami and Abu Dhabi, it previously played a role in the Nasdaq IPO of edge AI computing company Blaize.

Earlier this month, Robo.ai announced an investment in the decentralized physical infrastructure networks (DePIN) platform Arkreen to explore Web3 Technology. A few days before that, the firm also announced the establishment of a joint venture in the U.A.E. with Ewatt (Nanjing) Aerospace Technology Co., focused on the deployment of electric vertical take-off and landing (eVTOL) aircraft.

The company aims to build a decentralized, AI-driven network platform that connects multiple smart devices, including smart vehicles, autonomous driving, robotics, electric vertical take-off and landing (eVTOL) aircraft, and intelligent logistics.

On Stocktwits, retail sentiment around AIIO stock stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘high’ levels.

AIIO stock has more than tripled this year. 

Read also: Novavax Amends Deal With Sanofi, Broadens Partnership

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on