Google Is Boosting CXApp Stock Monday: What's Going On?

CXApp Inc CXAI shares are trading higher Monday after the company announced a partnership with Alphabet Inc’s GOOG GOOGL Google Cloud.

What Happened: CXApp said it signed strategic partnership and development agreements with Google Cloud as part of the launch of its CXAI Platform.

Google and its service partners will provide services including end-to-end security, analytics and monitoring as well as usage-based SaaS performance enhancements to create a strong cloud-mobile experience for CXApp clients on the new CXAI Platform.

The partnership agreements include the company’s Work SuperApp, generative AI applications and experiential analytics. Google is partnering with CXApp to help enable these applications and analytics through many of its technologies including the Vertex AI platform.

Other development agreements will focus on CXApp’s enterprise customer applications, which are mostly powered by Google Cloud, and adding the platform to Google Marketplace. Google signed a go-to-market partnership to add the CXAI application platform to its marketplace. Google teams will work with CXAI on targeting key clients and providing ideal workplace experiences.

“Our strategic partnership and development agreements with Google Cloud signify a pivotal moment in our journey. By leveraging our AI-native platform, powered by cutting-edge technology and data insights, we’re poised to be the technology leader enabling transformative workplace experiences”, said Naresh Soni, CTO of CXApp.

Soni and other members of the company’s leadership team will attend Google’s Cloud Next conference, beginning on April 9. The first deployment of the CXAI Platform is expected to take place in the summer.

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CXAI Price Action: CXApp shares were up 112.8% at $5.19 at the time of publication, according to Benzinga Pro.

Photo: 3844328 from Pixabay.