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EL DORADO HILLS, Calif. - Blaize Holdings, Inc. (NASDAQ: BZAI), a developer of artificial intelligence (AI) solutions at the edge currently valued at approximately $299 million, has announced a joint technology agreement with South Korea’s KAIST Institute for NanoCentury (KINC) of the Korea Advanced Institute of Science and Technology. The company’s stock has experienced significant volatility, trading near its 52-week low of $2.80, down about 80% year-to-date. According to InvestingPro analysis, the company maintains a current ratio of 2.14, indicating strong short-term liquidity position. The collaboration aims to foster research and development in edge AI computing applications, notably in biomedical, neuromorphic, and sustainable energy technologies.
The partnership focuses on creating AI-based chips for biomedical diagnosis, energy-efficient neuromorphic devices, and high-efficiency energy conversion materials for applications such as photovoltaics and green hydrogen production. While the company’s strategic initiatives are promising, InvestingPro data reveals challenging fundamentals, including negative EBITDA of -$42.7 million in the last twelve months. For deeper insights into Blaize’s financial health and 14 additional ProTips, consider exploring InvestingPro’s comprehensive analysis platform. Both entities plan to exchange personnel, provide educational opportunities, and conduct joint research, with workshops and conferences to share knowledge on AI chips and edge computing.
Blaize’s CEO, Dinakar Munagala, expressed enthusiasm about partnering with KAIST, which is renowned for its scientific and engineering discoveries, to develop the next generation of edge AI computing technologies. Prof. Sang-Ouk Kim, director of KINC, also highlighted the potential for the collaboration to drive meaningful innovation in fields like biomedical diagnostics and sustainable energy.
This agreement is part of Blaize’s ongoing efforts to expand its edge AI computing applications across various industries, demonstrating the company’s growing customer pipeline. Blaize, headquartered in California, has raised over $330 million from a mix of strategic and financial investors and operates globally with more than 200 employees. The company faces near-term challenges, with analysts forecasting a 37% revenue decline for the current fiscal year and negative earnings per share of -$0.65.
KAIST, based in South Korea, is highly regarded for its research in science and engineering and maintains comprehensive industry partnerships and global collaborations.
The press release also included forward-looking statements that involve risks and uncertainties, cautioning that actual future events could differ from current expectations. These statements are based on beliefs, assumptions, and information available to Blaize at the time and are subject to change.
This news article is based on a press release statement and aims to provide an unbiased overview of the factual information regarding the partnership between Blaize Holdings, Inc. and KAIST Institute for NanoCentury.
In other recent news, Blaize Holdings, Inc. has released its financial projections, indicating strong momentum with anticipated revenue between $19 million and $50 million for fiscal year 2025, and a significant increase to between $105 million and $140 million for fiscal year 2026. The company’s revenue model includes hardware sales and recurring revenue sharing from edge device charges. Non-GAAP gross margins are expected to range from 46% to 50% for the fiscal years 2025 and 2026. Additionally, DA Davidson has initiated coverage on Blaze Inc., issuing a Buy rating with a price target of $10, reflecting confidence in the company’s potential within the AI-enabled edge computing market.
Blaize has also announced the appointment of Lane Bess as chairman of its board of directors, bringing extensive experience from his leadership roles at companies like Palo Alto Networks (NASDAQ:PANW). His appointment is seen as a strategic move to leverage his expertise in advancing Blaize’s mission in AI and edge technology. Meanwhile, Blaize’s collaborations with industry partners such as Denso Corporation and Mercedes-Benz (OTC:MBGAF) Group AG are enhancing its automotive solutions, particularly in the development of autonomous and advanced driver assistance systems.
The company’s focus on edge AI technology aligns with growing demands in sectors like defense and smart cities. CEO Dinakar Munagala highlighted the company’s strategic positioning to meet high-performance compute demands, supported by a growing customer pipeline. Blaize’s recent developments underscore its commitment to integrating edge AI into various industries, aiming for energy efficiency and low latency benefits. These updates provide investors with insights into Blaize’s ongoing growth and strategic initiatives.
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