NEW YORK, NY / ACCESSWIRE / June 5, 2018 / Shares of American Electric Technologies as well as NVIDIA Corporation were seeing green in Monday trading on positive developments. American Electric Technologies' business has received a $14 million contract to provide a turnkey power delivery solution with a leading EPC firm. NVIDIA Corporation’s CEO Jensen Huang announced the availability of an important upgraded version of Issac, a new platform to power the next generation of autonomous machines.
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American Electric Technologies, Inc.
American Electric Technologies, Inc. shares were on fire in Monday trading, closing the day up over 126%. Shares hit a new high of $2.53 after the power delivery solutions company announced that its M&I Electric business has been awarded a $14M contract to provide a turnkey power delivery solution for a fractionation plant expansion project in Texas. Company CEO and President, Charles Dauber, commented, "This project award is one of the largest in the company's history and is further validation of our strategy to be a leading provider of safe, intelligent arc-resistant switchgear and turnkey Power Distribution Center solutions for the midstream and downstream oil and gas markets. We look forward to another successful project with this long time EPC customer for this fractionation plant project.” The company's M&I Electric business anticipates the delivery of the project to be in the second quarter of 2019.
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NVIDIA Corporation shares closed up nearly 3% yesterday and soared to a new high of $265.74. It was on Monday at Computex in Taipei, that the company's CEO and founder, Jensen Huang, announced that an upgraded version of Issac will soon be available. According to NVIDIA, the Jetson Xavier AI platform developer kit, is a next-gen robotics system that is the next step in autonomous machines as it reportedly brings AI capabilities to a new set of industries. It will be available in August for $1,299 and includes the Isaac robotics software. Huang stated, "AI is the most powerful technology force of our time. Its first phase will enable new levels of software automation that boost productivity in many industries. Next, AI, in combination with sensors and actuators, will be the brain of a new generation of autonomous machines. Someday, there will be billions of intelligent machines in manufacturing, home delivery, warehouse logistics and much more.”
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