BlackBerry Stock Surges Following Robotics Collaboration with AMD

April 11, 2024

40 1 minute read

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BlackBerry (NYSE:BB), a software solutions provider, saw its shares surge by nearly 6% today after the company announced a major robotics collaboration with chipmaker Advanced Micro Devices (NASDAQ:AMD).

The Focus of the BB-AMD Collaboration

The collaboration will focus on developing next-generation robotic systems to address the need for real-time capabilities in robotics-focused hardware. Additionally, the two partners are aiming for an affordable platform that can offer better performance alongside increased scalability of the robotic systems in the industrial and healthcare settings.

Strategic Fusion

Specifically, this platform brings together BlackBerry’s QNX software solutions and AMD’s Kria KR260 starter kit. The combination promises high-performance data processing, real-time control, industrial networking, and lower latency in robotic applications.

Importantly, this joint effort comes at a time when more and more companies are focusing on robotics, including autonomous mobile robots to drive growth.

Is BB Stock a Buy, Sell, or a Hold?

Today’s price gains come after a nearly 19% drop in BlackBerry’s share price so far this year. Overall, the Street has a Hold consensus rating on BlackBerry, alongside an average BB price target of $2.99. Meanwhile, AMD shares too are ticking higher today.