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Blue Cloud Softech Shares Surge 17% Following Key EdgeAI Chip Development Deal
Blue Cloud Softechs shares surged nearly 17% after signing a Technology Ownership Transfer agreement valued at approximately USD 150 million to co-develop edgeAI chips with an Israel-based firm.
- The Hyderabad-based company announced a Technology Ownership Transfer agreement to collaborate on edgeAI chips, potentially worth around USD 150 million in the semiconductor sector.
- Following the announcement, Blue Cloud Softechs stock price rose 16.89 percent to Rs 34.81 on the NSE, reflecting strong investor confidence in the artificial intelligence market.
- This partnership with an Israel-based technology firm aims to enhance automation capabilities and leverage intellectual property in semiconductor device fabrication, critical for Indias tech landscape.
Why It Matters
This development underscores Indias growing role in the global semiconductor market and highlights the increasing importance of artificial intelligence and automation in technological advancements. The collaboration could also enhance Indias competitiveness in the rapidly evolving tech industry.