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Surf Air (SRFM) Invests $26M to Develop SurfOS

Surf Air Mobility Inc. (NYSE:SRFM) is one of the 10 Best New Penny Stocks to Invest In. On December 30, Surf Air Mobility Inc. (NYSE:SRFM) announced that it has allocated $26 million from its recent $100 million strategic transaction to support the development and commercialization of SurfOS’s flagship products, including BrokerOS, OperatorOS, and OwnerOS.

The funding will be used to strengthen engineering and go-to-market capabilities, develop enterprise-grade solutions, and introduce new modules. Surf Air Mobility Inc. (NYSE:SRFM) expects these efforts will help it increase its share in the growing air mobility software market.

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According to the report by Surf Air Mobility Inc. (NYSE:SRFM), SurfOS’s core operating system is powered by Palantir Technologies Inc.’s (NASDAQ:PLTR) Foundry and AIP Platforms for the Part 135 regional aviation segment. The company has also expanded its partnership with Palantir Technologies Inc. (NASDAQ:PLTR) to offer enterprise implementation services. Additional go-to-market resources from Palantir Technologies Inc. (NASDAQ:PLTR) will also speed up the commercial rollout of SurfOS.

Surf Air Mobility Inc. (NYSE:SRFM) reported clear operational improvements after internally adopting SurfOS tools. The company achieved a reduction in On Demand team expenses, which allowed it to generate higher revenues at lower costs. It also recorded a significant increase in bookings per broker. In addition, the crew scheduling tool in Surf Air Mobility Inc.’s (NYSE:SRFM) Northeast and Hawaii regions is helping prevent scheduling errors, reduce compliance risk, and operational complexity.

Surf Air Mobility Inc. (NYSE:SRFM) is an electric aviation, software, and air travel company. It provides technology to support the modernization of air operations and the adoption of next-generation aircraft. The company also operates one of the latest commuter airlines in the US.

While we acknowledge the potential of SRFM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SRFM and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 13 Best Gold Mining Companies to Invest In Now and 13 Best Fast Food Stocks to Buy.

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

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