In This Article:
Investing.com -- Generative artificial intelligence solutions provider Zapata AI (NASDAQ:ZPTA) has agreed to a partnership with independent defense contractor MAG Aerospace to build "foundational elements" of a cutting-edge airborne surveillance platform.
In a statement on Tuesday, Zapata said its work with Virginia-based MAG will center around the development of "next-generation" equipment designed to carry out intelligence, surveillance and reconnaissance services. The gear will rely on "advanced sensor fusion" that will use real-time data processing to help automate the process of acquiring, identifying and tracking targets, Zapata AI said.
It added the two businesses will also build software for specific missions, as well as "dynamic communications" aimed at optimizing how information is shared across digital networks in contested areas.
Zapata AI called the partnership -- which will see the firm fold its AI-driven enterprise solutions software into MAG's systems -- "a significant step forward in [intelligence, surveillance and reconnaissance]" that will "significantly improve" tactical decision-making in "challenging operational environments."
"The partnership with MAG showcases how Zapata’s innovative approach to AI can solve complex, real-world challenges, and we’ll help push the boundaries of what's possible for the next generation of airborne [intelligence, surveillance and reconnaissance], while helping MAG better serve its customers in achieving their mission objectives," said Zapata AI Chief Executive Officer Christopher Savoie.
Zapata AI did not provide any financial details about the partnership, but said it deepens its presence in the US defense sector. The company also has agreements in place with the research agency of the US Department of Defense as well as the US Special Operations Command.
Founded out of Harvard University's computer science and quantum labs, Zapata AI was taken public via a merger with a special purpose acquisition vehicle earlier this year.
MAG, meanwhile, provides both manned and unmanned airborne outsourced intelligence, surveillance and reconnaissance services to clients "across multiple end markets." According to the company, it has "[more than] 1,000 employees operating [over] 200 platforms over 100,000 flight hours annually on six continents."
Related Articles
Zapata AI announces platform partnership with MAG Aerospace - Exclusive
Boeing weighs raising at least $10 billion selling stock, Bloomberg News reports
Futures dip ahead of labor data; Powell signals modest rate cuts