The space technology developer now has a piece of a potentially quite complementary tech business.
Space and defense stock Voyager Technologies (VOYG 13.28%) took off like a rocket packed with fuel on Monday. The company’s shares gained more than 13% in value after it divulged an investment into an artificial intelligence (AI) business. That trajectory was far more impressive than that of the bellwether S&P 500 index, which only cruised flat that trading session.
Time for an AI investment
Monday morning, Voyager announced that investment, which is being channeled into privately held company Latent AI. Voyager described Latent AI as a developer that “optimizes AI for contested and constrained environments, bringing faster, smarter and more resilient decision-making to the edge.”
Image source: Getty Images.
Although it’s obviously proud of this move, Voyager did not provide any specifics about the deal. It did not provide the amount it’s plowing into Latent AI nor what stake in the company it might now hold.
It did say that with the new funds coming in, Latent AI will have scope to accelerate development of its AI and to “broaden their hardware reach.” The goal is to put AI-ready processors in Voyager-built craft.
Nevertheless, Latent AI feels like it’ll be a good fit for Voyager, which aims to develop and build space stations. As the former company concentrates on AI that quickly produces output in high-pressure situations, its solutions might serve space missions very well.
Voyage into the unknown
Without details of the deal, it’s hard to make a fully educated guess as to how it’ll affect the fundamentals of Voyager, which has consistently posted net losses of late. I don’t feel it’ll be a make-or-break event for the company. However, if the partnership between the two businesses is fruitful, it could give Voyager quite the technological edge.
Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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