Blaize Stock (BZAI) Rockets 80% on $120M AI Deal
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Blaize will benefit from this collaboration, as it will bring in $120 million in revenue over its initial 18-month period. The agreement will result in Blaize's AI offerings being used in smart city applications, including cities across India, Indonesia, Japan, South Korea, and China.
Blaize cofounder and CEO Dinakar Munagala said, 'Asia represents a $112B opportunity for next generation intelligent systems, and inference is leading the charge. Our hybrid AI platform is designed to deliver the efficiency, flexibility, power, and support for multimodal workloads to meet this surge, especially at the edge.'
Blaize Stock Movement Today
Blaize stock was up 81.52% in pre-market trading on Friday, extending an 8.6% rally from yesterday. Even so, the shares have decreased 79.8% year to date and 72.92% over the past 12 months. Today's rally came with heavy trading of BZAI stock, with some 31 million shares traded, compared to a three-month daily average of about 396,000 units.
Is Blaize Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts' consensus rating for Blaize is Moderate Buy, based on two Buy and one Sell rating over the past three months. With that comes an average BZAI stock price target of $6.50, representing a potential 114.52% upside for the shares.
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