By Owen Tucker-Smith
Rezolve AI shares rose after two companies said they planned spend as much as $500 billion on joint venture to make investments AI infrastructure.
The stock rose 9.4% to $3.13 per share in Wednesday trading. The shares are up 29% in the last five days, but tumbled 72% in the last year.
A group of companies including OpenAI and SoftBank on Tuesday said they would commit $100 billion to artificial-intelligence infrastructure and as much as to $500 billion in the next four years. Their joint venture, known as Stargate, was announced at a White House ceremony with President Donald Trump.
Rezolve, which specializes in e-commerce AI models trained on retail data, said Wednesday the investment would help the company by enhancing current machine learning models, which would in turn advance the company's retail technology.
Rezolve CEO Daniel Wagner will present and host one-on-one meetings with investors at the Sidoti Micro-Cap Virtual Conference on Wednesday and Thursday.
Write to Owen Tucker-Smith at owen.tucker-smith@wsj.com
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January 22, 2025 12:55 ET (17:55 GMT)
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