Tiny AI company Blaize jumps 50% after securing $120 million contract for “smart city applications” in Asia
Tiny AI company Blaize is up more than 50% after announcing a $120 million deal to deploy its platform in Asia “for smart city applications.”
The California-based firm is partnering with Starshine Computing Power Technology Ltd., an AI infrastructure provider, for this project.
“Blaize and Starshine will deliver a new class of hybrid AI computing clusters, integrating Blaize’s GSP-based inference accelerators to complement GPU-based infrastructure,” per the press release. “This rollout can cut energy use, lower total cost of ownership, process multimodal data streams, and enable real-time, localized decision-making at the edge.”
On the surface, this looks like one for the “somebody knew something” file: a pair of massive trades went up in Blaize with less than 10 minutes to go near the end of session on Thursday, which was the busiest stretch of trading activity the company has had this month. A similar burst in activity took place near the end of the session on June 27. The company would go on to rally nearly 27% the next session after announcing that it had secured a $56 million purchase order.
Before going too far down the rabbit hole... those big spikes appear to have been sales. On Thursday, the volume at the $3.04 transaction price was tilted to the “bid” side relative to the “ask.” Since the bid is the highest price a buyer is willing to pay and the ask the lowest price a seller is willing to accept (and higher than the bid!), activity that takes place on the bid side indicates a motivated seller. Same goes for the action near the close on June 27.
