What's Going On With Exela Technologies Stock Today?

Exela Technologies, Inc. XELA shares are trading lower Thursday. The company announced its collaboration with Microsoft Corporation MSFT which will allow customers to leverage generative AI technologies on Microsoft Azure.

What To Know:

The collaboration, initially focused on India, combines Exela technology with Microsoft Azure OpenAI Service, and provides customers with access to OpenAI's advanced AI models with the security of Microsoft Azure.

"Microsoft has been on the forefront of accelerating AI breakthroughs, and we are beyond pleased to collaborate with them and ensure that these benefits are shared with our customers and employees to communicate and collaborate even more efficiently," said Sriram Ramanathan, CTO of Exela.

Exela shares are moving lower on above-average trading volume. According to Benzinga Pro, more than 1.55 million shares have been traded in the session, compared to the stock's 100-day average of 2.469 million shares.

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XELA Price Action: According to Benzinga Pro, shares of XELA are trading 5.52% lower at $4.79 at the time of publication.

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