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Investing.com - Blaize Inc. (NASDAQ:BZAI), a $489 million market cap AI technology company currently trading at $4.81, received an upgrade from Rosenblatt Securities on Monday, raising its rating from Neutral to Buy with a price target of $6.00.
The upgrade follows Blaize’s announcement of a second large agreement for AI infrastructure solutions deployment in Asia. The two agreements, signed within the past two weeks, are valued at $120 million and $56 million respectively, to be fulfilled over approximately 18 months. The stock has responded strongly to these developments, surging over 65% in the past week according to InvestingPro data.
Rosenblatt noted that Blaize is securing agreements that are both larger and earlier than previously anticipated. The firm expressed being "impressed" with Blaize’s potential revenue pipeline of approximately $900 million through 2027, with high confidence in closing $300 million. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.43, though it remains unprofitable over the last twelve months. Get access to 15+ additional ProTips and comprehensive financial metrics with InvestingPro.
The research firm highlighted Blaize’s edge AI technology for its high performance per watt, development support ecosystem, and ability to reach multiple end markets as key strengths.
Based on these developments, Rosenblatt has increased its estimates for Blaize and established the $6.00 price target as part of its rating upgrade.
In other recent news, Blaize Holdings, Inc. has announced a significant $120 million partnership with Starshine Computing Power Technology Limited to deploy its hybrid AI platform across the Asia Pacific region. This strategic collaboration is set to expand Blaize’s presence in key markets such as India, Indonesia, Japan, South Korea, and China, focusing on smart city applications. The deployment will commence in the third fiscal quarter of 2025 and continue through 2026. Additionally, Blaize has secured a $56 million smart city contract in Southeast Asia and a $104 million defense contract in the Gulf States, prompting the company to raise its fiscal year 2025 revenue guidance to at least $35 million, with projections for fiscal year 2026 reaching $130 million.
In another development, Blaize has entered into a Sales Partner Referral Agreement with Burkhan LLC, allowing Burkhan to promote Blaize products and refer potential customers. This agreement includes an initial purchase of up to $56.5 million of Blaize products by BurTech Systems Tech LLC, an affiliate of Burkhan Capital. Furthermore, DA Davidson has reiterated its Buy rating on Blaize stock with a $10 price target, reflecting confidence in the company’s recent contract announcements. Blaize Holdings has also scheduled its first Annual Meeting of Stockholders for December 2025, with details to be provided in an upcoming proxy statement. These recent developments reflect Blaize’s strategic efforts to expand its market presence and revenue potential.
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