BigBear.ai Holdings (NYSE: BBAI) stock soared 14.26% in pre-market trading on Wednesday, following an announcement that the AI firm has secured a crucial contract from the Department of Defense (DoD).
The McLean, Virginia-based company revealed that it has been awarded a contract by the DoD's Chief Digital and Artificial Intelligence Office (CDAO) to advance its Virtual Anticipation Network (VANE) prototype. VANE is an AI-powered system designed to analyze media data from potential foreign adversaries, enabling faster and more informed assessments of geopolitical risks and trends related to national security.
According to BigBear.ai, the prototype award will improve CDAO's ability to identify key topics and trends from media originating in adversary countries. This will be achieved by leveraging custom AI models to aggregate and analyze vast data points, ultimately aiding predictions of adversarial activity in complex situations.
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