BUZZ-BigBear.ai up on $165 mln US Army contract

Reuters
14 Oct 2024

** Shares of BigBear.ai up 13% at $1.82, the highest in 7 months

** The AI-driven service provider for decision making was awarded a five-year, $165 million contract for U.S. Army's Global Force Information Management (GFIM) Production Services

** Upon completion, technology known as GFIM-OE will help senior leaders and combatant commanders to make decisions more quickly

** "The GFIM system will provide critical authoritative force management data that enables the Army to properly train, man, equip, and resource our forces" - Andy St. Laurent, U.S. Army GFIM capabilities management officer

** Including session moves, stock still down 15.7% for the year

(Reporting by Bageshri Banerjee)

((bageshri.banerjee@thomsonreuters.com;))

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