Blue Cloud Softech Solutions Limited saw its shares rally over 16% after the company announced the signing of a $15 million strategic Memorandum of Understanding (MoU) with Byte Eclipse, a US-based Internet of Things (IoT) technology firm.
Under this collaboration, both companies will jointly design and develop advanced Edge AI chips tailored specifically for the Oil & Gas (O&G) industry. These next-generation chips will power real-time, on-site data processing and analytics, helping oil and gas operations make faster and smarter decisions in areas such as predictive maintenance, safety monitoring, and operational efficiency.
Blue Cloud said the partnership reaffirms its focus on driving digital transformation and industrial automation through innovative, AI-driven, and cost-effective solutions.
The first phase of the project, valued at $15 million, is expected to be completed within 18 months. Future phases will aim to scale the technology for global deployment across diverse industrial sectors, expanding the reach of Blue Cloud’s AI and IoT ecosystem.
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