Robo.ai Inc. (NASDAQ:AIIO) shares declined 4.58% during after-hours trading on Tuesday, closing at $2.50.
Check out the current price of AIIO stock here.
According to Benzinga Pro data, the decline followed a strong 35.75% gain during regular trading, where the stock closed at $2.62.
$300 Million Strategic Investment Announced
The AI-enabled robotics company revealed a $300 million investment commitment from a consortium led by Burkhan Capital LLC, a UAE-based company, according to a joint statement issued on Tuesday.
The deal is expected to close within 30 days, pending customary conditions.
The company also revealed a joint venture with Pakistan’s JW Group on Sept. 22 to develop commercial vehicles and expand into green mobility.
Expansion Plans and Market Positioning
Robo.ai plans to use the investment to grow its AI-driven system, which connects smart devices with blockchain. The company, based in both Miami and Dubai, aims to boost its presence in the Middle East and may also look to expand into North America, Europe, and South Asia.
Benjamin Zhai, CEO of Robo.ai, stated, “This funding will turbocharge our ability to scale our platform and deliver on our mission to usher in a new era of the intelligent Internet of Things.”
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Shahal Khan, founder and CEO of Burkhan Capital LLC, said, “Robo.ai represents the future of AI-driven innovation.”
He further added that their investment is not just a financial commitment, but also a strategic partnership to support a company that aligns with their “Profit with Purpose” philosophy.
Volatility Indicated
Robo.ai has experienced a 296.97% gain over the past year, trading within a 52-week range of $0.30 to $3.48. Its market capitalization is $884.53 million, with an average daily volume of 7.44 million shares.
The closing price on Tuesday marked the peak for the past month.
Benzinga Edge Stock Rankings indicate that AIIO has a positive price trend across all time frames. Track the performance of other players in this segment.
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