What's Going On With CXApp Stock?

CXApp Inc CXAI shares are in the spotlight again on Tuesday after rallying more than 150% on Monday. Here’s a look at what’s going on.

What To Know: CXApp shares closed up 151% on Monday after the company announced a partnership with Alphabet Inc’s GOOG GOOGL Google Cloud. CXApp said it signed strategic partnership and development agreements 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.

Google will help enable the company's Work SuperApp, generative AI applications and experiential 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. Google also signed a go-to-market partnership to add the CXAI application platform to Google Marketplace.

"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.

CXApp shares appear to be pulling back following Monday’s swift rally higher. The stock is still trending across various social platforms on Tuesday and was the top trending ticker on Stocktwits at last check.

See Also: Apple Quietly Unveils New AI Model ReALM That Outperforms OpenAI’s GPT-4 Despite Being ‘Much Lighter And Faster’

How To Buy CXAI Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in CXApp's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

CXAI Price Action: CXApp shares were down 20.6% at $4.88 at the time of publication, according to Benzinga Pro.

Photo: Kirkam/Shutterstock.