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International Business Times UK
International Business Times UK
Business
Niloy Chakrabarti

Here's Why This AI Defence Drone Platform Provider Stock Jumped 26% on Thursday

Ondas Drone Ondas Holdings United States
Ondas recently appointed Brigadier General Patrick Huston to its Ondas Autonomous Systems Advisory Board. (Credit: Via Pinterest)

Shares of Ondas Holdings (Nasdaq:ONDS), a leader of AI autonomous drone and private wireless solutions and networks, climbed nearly 26% on Thursday to $9.21 (£6.85) per share after the company said it placed an initial order of 500 Wasp drones from Rift Dynamics for distribution in the US defence market via its American Robotics subsidiary. Note that Ondas is a strategic investor in Norway-based Rift Dynamics, which innovates defence technology focused on affordable and attritable drone systems for the military.

The Wasp is a combat-ready, attritable drone system designed to meet the growing demand from the U.S. Department of War for 'mass affordable' strike and perimeter defence platforms.

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