AVAV - Why AeroVironment Stock Just Popped
2024-04-23 12:01:24 ET
Military drone manufacturer AeroVironment (NASDAQ: AVAV) shares gained 3.8% through 11 a.m. ET Tuesday, after the company announced a new artificial intelligence (AI) autonomy kit available for use on its unmanned aerial vehicles.
You read that right: AeroVironment is now an artificial intelligence stock .
Designed to "increase effectiveness of autonomous systems and reduce operator burdens," AeroVironment's new Autonomy Retrofit Kit (ARK) running AVACORE software is offered to upgrade existing Group 1+ (i.e., small) UAVs such as Puma. The company says its upgrade will permit drones to operate on full autonomous mode, without guidance from their ground controllers, utilizing onboard vision software to find, track, and classify targets.
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Why AeroVironment Stock Just Popped