Small-cap IT stock Blue Cloud Softech Solutions jumped more than 4% in morning trade on Tuesday, November 25, defying weak market sentiment. Blue Cloud Softech Solutions share price opened at ₹22.68 against its previous close of ₹22.68 and rose 4.5 per cent to an intraday high of ₹23.70. Around 11:15 am, Blue Cloud Softech share price was 2.25% up at ₹23.19, while equity benchmark Sensex was 0.10% down at 84,816.
Blue Cloud Softech Solutions JV update
In an exchange filing on November 25, Blue Cloud Softech Solutions announced it had formed a joint venture (JV) with Byte Eclipse Technologies Inc. to develop and commercialise an edge-AI chip platform for industrial and automotive applications.
“Blue Cloud Softech Solutions is delighted to announces that following the earlier strategic cooperation agreement between Blue Cloud Softech Solutions and Byte Eclipse Technologies Inc., USA, the companies have taken the next milestone step by entering into a formal joint venture (JV) for the design, manufacture, and global commercialisation of edge-AI microprocessor chipsets, using proprietary intellectual property secured under a technology transfer (ToT) agreement from an Israeli R&D partner,” said the company.
According to the exchange filing, under this joint venture, Blue Cloud Softech Solutions will design and manufacture a next-generation edge-AI chip, code-named “EclipseX1”, targeting high-reliability, low-latency AI applications.
Byte Eclipse Technologies Inc. will mobilise its sales network across the United States and Europe to commercialise the solution within specific industry verticals, including industrial automation IoT, automotive telematics and control modules (TCM), and EV charging infrastructure.
Blue Cloud Softech share price trend
Blue Cloud Softech share price has been under strong pressure this month, falling 21% after a 6% rise in October.
Year-to-date, the small-cap stock has suffered a loss of nearly 53%, hitting a 52-week low of ₹14.95 on April 17 this year. The stock rose to a 52-week high of ₹74.63 on November 25 last year.
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