- BigBear.ai ( NYSE: BBAI ) shares are surging up 271% premarket on receiving 10- year multiple award $900M Indefinite Delivery/Indefinite Quantity (IDIQ) contract by the U.S. Air Force.
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The company will compete for task orders supporting the Air Force Life Cycle Management Center Architectures and Integration Directorate to drive innovation and development of multi-domain systems.
- The Air Force Life Cycle Management Center Architectures and Integration Directorate expects the work on awarded task orders to be completed by 2032.
- Under the terms of the contract, the company can also compete for task orders supporting the research and development of new technologies, creation of rapid prototypes, capability testing, and solution implementation.
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BigBear.ai stock rockets over 200% on securing multiple award $900M IDIQ contract with the U.S. Air Force