BigBear.ai Says US Department of Defense Awards it Contract to Advance its Virtual Anticipation Network Prototype

Tiger Newspress

02-05

BigBear.ai Holdings said Wednesday it has received a US Department of Defense Chief Digital and Artificial Intelligence Office contract to advance the company's Virtual Anticipation Network, or VANE, prototype.

Shares of the company rose 31% in Wednesday trading.

Financial terms weren't disclosed.

The agreement will support the Chief Digital and Artificial Intelligence Office and Office of the Secretary of Defense to track news media in regions that are "potential foreign adversaries," the company added.

BigBear.ai said it may deploy VANE on the Chief Digital and Artificial Intelligence Office's Advana environment in the future.

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