Robo.ai Stock Soars On $300M Investment Commitment
Synopsis
The transaction is expected to close within the next 30 calendar days, provided customary conditions are met, the company said.
Shares of Robo.ai (AIIO) jumped 25% on Tuesday morning after the company announced that a consortium led by Burkhan Capital has committed $300 million in investment into the company.
The transaction is expected to close within the next 30 calendar days, provided customary conditions are met, the company said. The investment will be used for U.A.E.-based Robo.ai’s platform, which integrates smart devices into an AI-enabled ecosystem populated by blockchain, it added.
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