BigBear (BBAI) Jumps 16% on Malaysia Expansion

We recently published 10 Stocks Stealing Wall Street Spotlight. BigBear.ai Holdings Inc. (NYSE:BBAI) is one of the best-performing stocks on Monday.

BigBear ended three straight days of losses on Monday, climbing 16.02 percent to close at $6.26 apiece as investors cheered its expansion into Malaysia following a partnership for the development of advanced technologies to support the Pahang Aerospace City (PAC).

In a statement late last week, BigBear.ai Holdings Inc. (NYSE:BBAI) said it signed a strategic memorandum of understanding with Pahang Aerospace City Development Berhad and its established partners, Easy Lease, and Vigilix Technology Investment LLC, to ramp up the development and integration of advanced technologies throughout the aerospace city.

BigBear (BBAI) Jumps 16% on Malaysia Expansion

In particular, BigBear.ai Holdings Inc. (NYSE:BBAI) would focus on AI-driven border operations to help advance regional and international security.

PAC is a national transit hub for air, land, and sea modes of passenger travel. The development is expected to attract further significant domestic and foreign investment, strengthening Malaysia’s aerospace and support industries, while enabling the establishment of the region’s first international spaceport.

“By integrating mission-ready AI, predictive analytics, and secure orchestration technologies, together we can help Malaysia build a first of its kind aviation, transit, and space ecosystem that strengthens both national economic growth and regional security. This collaboration represents an exciting step forward for innovation and for BigBear.ai’s engagement in Southeast Asia,” said BigBear.ai Holdings Inc. (NYSE:BBAI) CEO Kevin McAleenan.

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