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BigBear.ai Soars 38% on New Department of Defense Contract Announcement

BigBear.ai has experienced a significant surge in its stock price following the announcement of a new Department of Defense (DoD) contract. The company has been tasked with advancing its Virtual Anticipation Network (VANE) prototype, which is designed to analyze media from countries considered potential foreign adversaries. This project will support the Chief Digital and Artificial Intelligence Office (CDAO) and the Office of the Secretary of Defense by employing custom AI models to predict adversarial activities. The VANE system, which was initially developed with the Irregular Warfare Technical Support Directorate, has been recognized for its potential and received 'awardable' status on the CDAO Tradewinds Solutions Marketplace in April 2024.

The contract not only highlights BigBear.ai's capabilities in AI-driven geopolitical risk analysis but also includes a transition plan for future deployment on the CDAO's Advana environment. This will allow broader access to the AI capability across the DoD's Combatant Commands, potentially leading to further opportunities for BigBear.ai within the defense sector.

BigBear.ai (BBAI) shares have risen 38.39% to $6.795 as of 1:53 pm on Wednesday, up from its previous close of $4.91 on February 4th.