CXApp (NASDAQ:CXAI) stock is climbing higher on Tuesday after the workplace experience platform signed an expansion agreement with Alphabet’s (NASDAQ:GOOGL, NASDAQ:GOOG) Google Cloud.
CXApp notes that this is a multi-year, multi-million dollar strategic agreement with Google Cloud. The company says it will focus on the development of advanced artificial intelligence (AI) infrastructure, security and application products.
To go along with that, Google Cloud is co-investing in CXApp. It’s doing so as part of the ongoing deployment, monitoring and modernization of the CXAI platform.
Khurram Sheikh, chairman and CEO of CXApp, said the following about the agreement with Google Cloud:
“The Google Cloud agreement positions us to deliver our commitments to our customers. We are super-excited about this partnership as it provides us access to all the latest Google AI innovations that we plan on adapting to revolutionize the workplace market with amazing employee experiences.”
How This Affects CXAI Stock Today
With this news comes heavy trading of CXAI stock on Tuesday morning. That has more than 6 million shares changing hands as of this writing. This is well above the company’s daily average trading volume of about 614,000 shares.
CXAI stock is up 64.6% as of Tuesday morning.
Investors will want to stick around for even more of the most recent stock market stories.
We have all of the hottest stock market news that traders need to know about on Tuesday. Among that is what has shares of Vicinity Motor (NASDAQ:VEV) stock up today and the biggest pre-market stock movers this morning. All of this news is ready to go at the links below!
More Stock Market News for Tuesday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
