Blacksky Technology (BKSY) Stock: Why It Surged 20.49% Today

By Amit Chowdhry ● Jun 21, 2022
  • The stock price of Blacksky Technology Inc (NYSE: BKSY) surged by 20.49% today. This is why.

The stock price of Blacksky Technology Inc (NYSE: BKSY) surged by 20.49% today. Investors responded positively to BlackSky Technologies being awarded a basic order agreement from the Joint Artificial Intelligence Center (JAIC) to create and optimize data sets for use in DoD AI models and applications. And the JAIC agreement has a ceiling value of $241 million over 5 years.

The JAIC, Defense Digital Service, and Office of Advancing Analytics were merged into a single organization called the Office of the Chief Digital and Artificial Intelligence Officer.

KEY QUOTES:

“With demonstrated AI expertise in space-based dynamic monitoring, this agreement will open even more doors for BlackSky to contribute its unique value to the diverse national security challenges faced by the wider DoD community.”

“From automatically tasking satellites to the low-latency delivery and analysis of high-frequency geospatial imagery and non-imagery data, our unique, data-rich platform brings a strong source of core AI-enabled end-to-end capabilities to the DoD’s mission sets.”

— Patrick O’Neil, BlackSky chief innovation officer

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.