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Among the finest-performing shares yesterday was a small know-how firm known as Airship AI Holdings, Inc. Its inventory (ticker AISP) bought an enormous increase on Tuesday, climbing 200% in a single buying and selling session.
However simply what does Airship AI do and why did the inventory go up a lot? Right here’s what it’s essential know.
What’s Airship AI?
Airship AI Holdings is a small tech firm primarily based in Redmond, Washington. Although comparatively unknown within the public eye, the corporate was based practically 20 years in the past, in 2006.
The corporate’s principal merchandise are three {hardware} and software program choices collectively often called the Airship Suite. The person parts are Airship Acropolis OS, Airship Command, and Airship Outpost. Airship refers to itself as a “video, sensor, and information administration surveillance platform” powered by synthetic intellegence.
Airship AI gives its providers to the legislation enforcement and protection industries. Its Airship Suite helps companies analyze video to remain forward of threats. Airship says its platform “improves public security and operational effectivity for public sector and business clients by offering predictive evaluation of occasions earlier than they happen and significant intelligence to choice makers.”
Who’re Airship AI’s clients?
In response to its website, Airship AI’s clients embrace the U.S. Division of Homeland Safety, the U.S. Division of Justice, the U.S. Division of the Navy, the US Particular Operations Command, and several other police forces together with the Virginia State Police and the Chicago Police.
Outdoors of legislation enforcement and intelligence, the corporate additionally counts Dwelling Depot and FedEx as its clients.
Why did Airship AI’s inventory go up a lot?
AISP shares shot up 200% yesterday primarily due to an announcement the corporate made. In a press release, Airship AI mentioned it had been awarded a big contract by an company throughout the DOJ for its “Acropolis Enterprise Sensor Administration video and information administration platform supporting rising public security and investigative necessities.”
Airship didn’t reveal the precise division or the monetary phrases of the contract.
When did Airship go public?
The corporate went public in December 2023 through a SPAC deal and trades on the Nasdaq. That deal noticed Airship AI mix with BYTE Acquisition Corp.
On the time, Airship mentioned the transaction “valued Airship AI at pre-money fairness worth of roughly $225 million.” Nevertheless, shares tumbled after the itemizing and have been buying and selling below $2 for many of January and February.
How are AISP shares buying and selling as we speak?
As of the time of this writing, AISP shares are up one other 55% to $7.68 in premarket buying and selling.
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