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Actelis Networks, Inc. (NASDAQ:ASNS), a provider of networking solutions for IoT applications, saw its shares soar 700% on Wednesday afternoon, following the announcement of new orders for its cyber-hardened technology to be deployed at three U.S. military bases.
What To Know: In early 2024, Actelis achieved certification from the Joint Interoperability Test Command and was listed on the Department of Defense Information Network (DoDIN) Approved Products List. The company also secured the U.S. Department of Commerce National Institute of Standards and Technology (NIST) certification for the FIPS 140-2 cryptographic standard.
“We have invested significant resources in achieving these critical government security certifications,” said Tuvia Barlev, Chairman and CEO of Actelis. “We are very pleased to see that those efforts are resulting in new orders and a strong pipeline for our federal market segment.”
What Else: Actelis' networking solution aims to modernize military bases by providing immediate fiber-grade connectivity to IoT devices and systems without extensive engineering or construction work, potentially saving time and financial resources for military and federal installations.
In February 2024, the U.S. military confirmed its use of AI in identifying targets during air strikes in the Middle East. Furthermore, the U.S. Navy's recent trademarking of "NavyGPT" indicates a broader adoption of AI within the military.
ASNS Price Action: Actelis Networks shares were up by 704.3% at $3.78 at the time of writing, according to Benzinga Pro.
See Also: Why Lands’ End Shares Are Trading Lower? Here Are Other Stocks Moving In Wednesday’s Mid-Day Session
Photo: Courtesy of Actelis Networks Inc.
Posted In: ASNS
