Sarcos Wins $13.8M US Air Force Contract, Stock Surges

Sarcos Technology and Robotics Corp STRC shares soared after its subsidiary Sarcos Defense secured a $13.8 million contract with Warner Robins Air Logistics Complex, Robins Air Force Base, Georgia.

This contract will span a period of four years and support the continued development of Sarcos artificial intelligence and machine learning framework to advance the Guardian line of robotic systems.

The Sarcos AI Computational Service aims to enable robotic systems to learn from experience using a learning approach, allowing robots to understand their environment, exhibit reasonable behavior in unforeseen situations, and quickly acquire new skills from new experiences.

Sarcos will focus on refining this technology to benefit the Department of the Air Force.

Throughout the contract, Sarcos will conduct Military Utility Assessments (MUAs) at various U.S. Air Force locations. These assessments will evaluate the intelligent algorithms on Sarcos robots, addressing operational challenges and demonstrating the enhanced productivity and safety offered by integrating AI and ML software.

Price Action: STRC shares are trading higher by 11.9% at $0.7499 on Thursday.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Market News and Data brought to you by Benzinga APIs
Posted In: EquitiesNewsPenny StocksContractsMarketsAI GeneratedBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!