Hub Security Forecasts Over $10M In New Contracts In 2024 From A Key Contract With Top US Enterprise AI Firm In Groundbreaking Big4 Project
Portfolio Pulse from Benzinga Newsdesk
HUB Cyber Security Ltd (NASDAQ:HUBC) has signed a letter of intent for a financing and services agreement and strategic collaboration with Blackswan Technologies, a US-based enterprise AI company. The collaboration will involve a project with a major banking group and may lead to a potential merger. The initial contract requires Hub Security to provide $3.5 million in financing and is expected to contribute over $10 million to Hub Security's revenue in 2024.
November 06, 2023 | 1:50 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
HUB Cyber Security's collaboration with Blackswan Technologies could lead to a significant increase in revenue in 2024, potentially positively impacting the company's stock.
The news of a strategic collaboration with Blackswan Technologies, which is expected to contribute significantly to HUB Cyber Security's revenue in 2024, is likely to be viewed positively by investors. This could lead to an increase in demand for the company's stock, potentially driving its price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100