Blue Cloud shares surge after $150 million deal mistaken for SpaceX
Business
Blue Cloud Softech Solutions' shares shot up nearly 31% in just two days after news broke about a $150 million contract.
The buzz happened because many thought the deal was with Elon Musk's SpaceX, but it's actually with a Malaysia-based company called SpaceX International Ltd. (not connected to Musk at all).
Blue Cloud builds for SpaceX International
Blue Cloud's US arm will build AI and data systems for SpaceX International Ltd. over the next 18 months.
The contract splits into $70 million for AI infrastructure, $25 million each for cybersecurity and telecom, and $30 million for data centers.
There's no link to Musk's famous space company, just a case of mistaken identity sending the stock soaring.