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Technology Stocks : Artificial Intelligence, Robotics, Chat bots - ChatGPT
NVDA 184.97-0.3%3:59 PM EST
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From: Glenn Petersen4/17/2023 5:02:31 AM
2 Recommendations

Recommended By
Ron
Savant

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An FYI, not a recommendation:

AI-Linked De-SPAC CXApp Surges 1,480% in Blistering Three-Day Rally

-- CXApp is latest to benefit from artificial intelligence frenzy

-- Software firm went public via SPAC merger with KINS Technology



Source: cxapp.com
---------------------------
By Subrat Patnaik
Bloomberg
April 14, 2023, 5:58 PM UTC

CXApp Inc. extended its three-day surge to as much as 1,480%, riding a wave of retail investor interest after listing via a SPAC merger with KINS Technology Group Inc.
The artificial intelligence-powered enterprise software company has jumped from $1.33 to as high as $21 without having released any new updates with the US Securities and Exchange Commission in the period as it becomes the latest stock to ride the AI wave that’s boosted multiple companies this year. It was the most-mentioned stock over the past day in Stocktwits, according to data compiled by Bloomberg.
Even after this week’s searing rallies, CXApp is still a relatively small company with a market capitalization of roughly $200 million, according to data compiled by Bloomberg. The Palo Alto, California-based company started trading on March 15.






AI-hungry investors have propelled Nvidia Corp., which makes the chips needed for complex AI computing tasks, into the best-performing stock among mega-caps this year. Relatively obscure firms with AI in their names have also skyrocketed. Guardforce AI Co. has soared more than 400%, BigBear.ai Holdings Inc. has surged more than 300%, while C3.ai Inc. has nearly doubled this year.

CXApp merges the AI mania with another volatile Wall Street phenomenon: special-purpose acquisition companies or blank check companies.

Blank checks, which raise money with the goal of taking private companies public, are supposed to offer safe returns for early investors who buy in at the IPO price and bank the subsequent gains.

CXApp Stock (CXAI) Surges on AI Interest After Listing Via SPAC Merger - Bloomberg (archive.ph)
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