New Delhi [India], June 23: Blue Cloud Softech Solutions shares rallied nearly 17 per cent in Tuesday’s trade after the company announced that it is exploring potential business opportunities in the artificial intelligence (AI) space with SpaceX International Ltd.

The stock climbed to an intraday high of Rs 25.39, marking a gain of around 17 per cent from its previous close of Rs 21.64, as investors reacted positively to the company’s latest strategic update.

In a regulatory filing, Blue Cloud Softech Solutions said it has initiated preliminary, non-binding discussions with SpaceX International Ltd to evaluate potential business opportunities in AI technology. As part of the arrangement, both companies have established a framework for exchanging information to facilitate discussions and assess possible areas of collaboration.

The company said the initiative is aligned with its long-term strategy of identifying growth opportunities within the digital infrastructure and technology ecosystem, particularly as demand for artificial intelligence applications and advanced digital technologies continues to accelerate.

However, Blue Cloud Softech clarified that the discussions are exploratory in nature and do not create any binding obligation for either party to enter into a transaction, joint venture, investment, partnership or any definitive agreement.

The company added that any future collaboration would be subject to due diligence, mutual agreement, execution of definitive documentation, necessary corporate approvals and compliance with applicable regulatory requirements. It also stated that any material developments arising from the discussions would be disclosed in accordance with regulatory norms.

Blue Cloud Softech Solutions is engaged in providing technology-enabled solutions and services. The company continues to evaluate opportunities across digital transformation, cloud technologies, artificial intelligence and infrastructure-led technology segments as it seeks to strengthen its presence in emerging technology markets.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.