GDYN - Grid Dynamics stock +6% after hours on expanded AI-focused relationship with Google Cloud
2023-06-06 16:57:20 ET
- Grid Dynamics ( NASDAQ: GDYN ) on Tuesday announced an expansion of its partnership with Alphabet's ( GOOG ) ( GOOGL ) Google Cloud focused on artificial intelligence (AI) and reiterated its Q2 guidance, sending its shares up more than 6% after hours.
- GDYN stock rose 6.6% to $9.59 in extended trading.
- "Grid Dynamics ( GDYN ) will partner with Google ( GOOG ) ( GOOGL ) to develop and implement Google Cloud generative AI solutions for enterprises," the company said in a statement .
- GDYN said it would leverage Google Cloud's Vertex AI platform, which includes generative AI capabilities such as large language models and image generation.
- In a separate statement , GDYN reiterated its Q2 2023 revenue guidance of $76M to $78M. The consensus revenue estimate is $76.98M.
- GDYN also reiterated its Q2 adj. EBITDA guidance of $10M to $11M and said it expects at least eight new enterprise logos in the quarter.
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Grid Dynamics stock +6% after hours on expanded AI-focused relationship with Google Cloud