Defence Holdings (ALRT) – Defence
| Price: 1.28p +16.7% | P/E: n/a |
| Market Cap: £29.3m | Yield: n/a |
The defence technology group has released a few details on its operational progress since raising roughly £3.5 million from shareholders.
Project Ixian, the UK’s first sovereign AI system, which is being developed with Whitespace and Google Cloud, has begun ‘formalising’ commercial activity and is in the final stages of contract negotiations with its first customer.
Given Ixian is the first in a pipeline of sovereign AI products designed to counter modern information warfare and improve national security by ensuring information integrity against disinformation, deepfakes and cyber threats, the firm can’t really say a lot about it.
What is does say, however, is the project has gone from development to contract finalisation ‘at a pace not typically seen within traditional UK defence development and procurement processes’, thanks to the accelerated delivery objectives set out in the Strategic Defence Review.
Our View
Defence stocks are hot, and none come hotter than ALRT whose shares are up 3,200% since the start of the year after it converted from an e-sports company.
That’s only half the story, though: at one stage the shares were changing hands at 4p, so with the price back to around 1.3p who’s to say where they go from here.
Read the press release here: https://www.defenceplc.com/investors
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