What's Going On With Andretti Acquisition Corp Stock Thursday?

Andretti Acquisition Corp WNNR shares are trading higher Thursday after the company announced that it completed its business combination with Zapata Computing.

What To Know: Industrial Generative AI software company Zapata Computing has completed its business combination with special purpose acquisition company Andretti Acquisition Corp. The combined company has been renamed Zapata Computing Holdings Inc and will operate as Zapata AI.

“Since our launch in 2017, Zapata AI has been working diligently to lead the industrial generative AI revolution and becoming a public company will meaningfully advance our progress by opening up a new source of capital to fuel our growth and drive innovation,” said Christopher Savoie, CEO of Zapata AI.

“In a large and rapidly growing total addressable market, we are operating from a position of strength with enhanced financial flexibility, proprietary industrial generative AI techniques, and algorithms that we believe are at the leading edge of these new frontiers.”

Zapata AI says it develops and delivers generative AI solutions to solve customers’ industrial-scale operational challenges by leveraging its algorithms based on quantum physics.

Zapata AI is set to be listed on the Nasdaq stock exchange on April 1 and begin trading under the ticker symbol “ZPTA.”

See Also: Hedge Fund Manager Buys Tesla Stock After ‘ChatGPT Moment’ With Latest Full Self-Driving Release: ‘Feels Like A Human Driving’

WNNR Price Action: Andretti Acquisition Corp shares were halted for volatility multiple times in early trading Thursday. The stock was up 31.8% at $13.57 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.