Actelis Networks Stock Skyrockets 700% After Securing New US Military Orders
Actelis Networks, Inc. (NASDAQ:ASNS), a provider of networking solutions for IoT applications, saw its stock soar 700% in Wednesday’s pre-market trading following the announcement of new orders for its cyber-hardened technology to be deployed at three U.S. military bases.
What Happened: At the time of writing, ASNS was trading 766% higher at $4.07, up from its previous close of $0.47 on Tuesday when the announcement was made via a press release.
In early 2024, Actelis achieved certification from the Joint Interoperability Test Command and was listed on the Department of Defense Information Network (DoDIN) Approved Products List. In February, the company also secured the U.S. Department of Commerce National Institute of Standards and Technology (NIST) certification for the FIPS 140-2 cryptographic standard.
"We have invested significant resources in achieving these critical government security certifications," said Tuvia Barlev, Chairman and CEO of Actelis.
"We are very pleased to see that those efforts are resulting in new orders and a strong pipeline for our federal market segment."
Actelis’ networking solution aims to modernize military bases by providing immediate fiber-grade connectivity to IoT devices and systems without extensive engineering or construction work, potentially saving time and financial resources for military and federal installations.
The company’s products feature 256-bit MACsec encryption and data fragmentation, enhancing security for IoT devices at the network edge.
Why It Matters: The U.S. military’s increasing reliance on advanced technologies, such as artificial intelligence and autonomous vehicles, underscores the significance of Actelis’ recent orders. In February 2024, the U.S. military confirmed its use of AI in identifying targets during air strikes in the Middle East. Schuyler Moore, Chief Technology Officer for the U.S. Central Command, highlighted the role of AI in over 85 airstrikes targeting facilities in Iraq and Syria.
Furthermore, the U.S. Navy’s recent trademarking of “NavyGPT” indicates a broader adoption of AI within the military. Trademark attorney Josh Gerben noted that this move could signal future AI applications in naval operations.
Additionally, Palantir Technologies Inc.CEO Alex Karp emphasized the importance of advanced defense technologies to deter potential adversaries. Karp’s comments reflect a growing focus on software-defined weapons systems to enhance national security.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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