GenIP shares jumped on Wednesday after the Generative AI analytics firm announced surging orders and pointed to encouraging negotiations with potential new clients.
After listing on London’s AIM in October, GenIP has announced a series of corporate updates that provide insights into the pace of sales and orders for its Generative A analytics services.
Today’s announcement revealed orders for their technological discovery commercialisation assessments have more than doubled since the last update in October.
GenIP works closely with research institutions such as universities and corporations to help bring new technologies to market by providing comprehensive reports on commercial opportunities and potential valuations using their proprietary GenAI models. The level of orders announced today suggests these organisations see real value in GenIP’s offering and have acted by ramping up activity.
The company also announced its first client in Saudi Arabia, demonstrating the global reach GenIP has established.
Perhaps the biggest takeaway from today’s update was the announcement of GenIP’s largest order since the launch of their Generative AI services. A leading Fortune 100 technology company client has placed an order for 30 assessments, bringing the total number of GenAI assessment orders to 195. GenIP previously announced orders for 80 assessments in October.
“We are delighted to have received GenIP’s largest single order since our GenAI enhanced services launched,” said Melissa Cruz, CEO of GenIP
“The calibre of our clients and the orders for multiple volume reports demonstrates the utility of our technology transfer services for research institutions seeking to improve commercialisation of their new discoveries. Additionally, we are highly encouraged by our interactions with leading innovators at recent industry events in Singapore and Brazil and are confident these will translate to additional orders for GenIP’s services.”
Looking ahead, GenIP are engaged in negotiations with over 50 new potential clients and ‘looks forward to announcing significant commercial milestones in the near term’.
GenIP shares were 10% higher at the time of writing.