Why Is BNAI Stock Rising Today?

Brand Engagement Network Inc. (BNAI) on Wednesday announced that it has secured a new licensing partnership in Africa for its artificial intelligence technology.

Brand Engagement Network announced that a strategic partnership with Valeo Technologies has been finalized to establish an exclusive AI licensing framework for government and commercial markets across Africa.

As part of the partnership, Brand Engagement Network will receive a preferred equity contribution of $2.05 million from a newly formed South Africa–based entity, recognized as intellectual property licensing revenue.

Brand Engagement Network shares were up more than 44% in Wednesday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘bearish’ territory at the time of writing.

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Also See: NFLX Stock Drops Pre-Market: Analysts Trim Targets After Q1 Miss, WBD Deal Raises Expense Fears

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