US Stock Market Move | "SES AI Corp (SES.US) gains over 60% with a $10 million artificial intelligence battery contract"

On Thursday, SES AI Corp (SES.US) surged over 60% intraday, reaching $1.35. On the news front, SES AI has signed contracts worth up to $10 million with two renowned global OEM partners, marking a milestone in using artificial intelligence to discover battery materials. These agreements are aimed at developing electrolyte materials for lithium metal and lithium-ion batteries in automotive applications. SES AI stated that a portion of the revenue from these contracts will be recognized in the fourth quarter of 2024, with the remainder expected to be recognized before mid-2025.