Datametrex Awarded $40 Million R&D Contract For AI Tech
Datametrex AI (TSXV: DM) has secured a major contract. The firm this morning indicated it has won a bid on a multi-phase R&D program contract focused on its artificial intelligence technology.
The contract, valued at approximately $40 million, has been awarded to Datametrex and its consortium partner for a Canadian Artificial Intelligence bid, with the governmental client on the other end remaining undisclosed due to confidentiality requirements. The scope of work was also not provided, however its related to the firms Social Media Automated Reporting Technologies, also known as SMART.
The contract features multiple phases, with the first phase now believed to be underway.
“This is a major milestone we accomplished for Datametrex. This will be a pivot for us to attract other high-profile customers to our AI business. Our selection on the next phase of the program is strong evidence in our superior AI solutions,” said Chairman Andrew Ryu on the awarding of the contract.
Datametrex AI last traded at $0.22 on the TSX Venture.
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