Amprius (AMPX) Soars 11.6% as Firm Ramps Up on Battery Production

We recently published 10 Stocks Crushing Wall Street With Massive Gains. Amprius Technologies Inc. (NYSE:AMPX) was one of the top performers on Tuesday.

Amprius rallied for a second day on Tuesday, surging 11.64 percent to close at $14.68 apiece after deepening its partnership with Nanotech Energy to ramp up the development of its high-performance silicon battery cells.

In a statement, Amprius Technologies Inc. (NYSE:AMPX) said that the partnership would pave the way for the production of high-performance silicon battery cells and support the demand from various industries such as defense, aerospace, and other mission-critical markets.

“Establishing a US manufacturing partner is essential to meeting the evolving requirements of our defense customers,” Amprius Technologies Inc. (NYSE:AMPX) CEO Tom Stepien said.

“Nanotech brings deep expertise in developing and manufacturing advanced lithium-ion cells. Their manufacturing skills and our industry-leading designs enable us to move quickly from development to production while maintaining the quality, security, and performance our customers expect,” he added.

The partnership followed their successful redesign and manufacturing of the Amprius SA128 silicon-anode cell over the past few months, which updated cell specifications to a 21700 cylindrical format with a capacity of 6.8 Ah and energy density of 320 Wh/g.

In other news, Amprius Technologies Inc. (NYSE:AMPX) last week earned a “buy” recommendation and a $20 price target from Needham & Company.

While we acknowledge the risk and potential of AMPX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AMPX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.