YY Group Holding Limited (NASDAQ:YYGH) shares gained 33.29% to $0.20 in after-hours trading on Wednesday after the company announced new AI and robotics initiatives.
YY Group is a Singapore-based workforce management and integrated facility management company that provides AI-powered workforce solutions for industries including hospitality, retail and food services.
AI Robotics Expansion Drives Gains
YY Group said on Wednesday, that its new Singapore humanoid robotics training lab will support the company’s AI training data strategy and operate using NVIDIA accelerated computing technology. The lab will work alongside the company’s existing AI training and data collection facility in Johor, Malaysia.
YY Group said both facilities will collect structured real-world workforce data to help train and improve service robots that can work alongside human employees. The company also announced pilot deployments of humanoid robots at a major shopping mall and a luxury hotel in Singapore to gather operational data and improve robot performance in real-world environments.
CEO Mike Fu said the company’s Human-Robot Co-Working framework is designed to allow robots to handle repetitive tasks while human workers focus on higher-value services. He added that YY Group’s network of more than 500,000 workers across 12 countries provides a data advantage for developing AI-powered workforce solutions.
Trading Metrics, Technical Analysis
YY Group has a market capitalization of approximately $1.4 million. The stock has traded between a 52-week high of $172.50 and a 52-week low of $0.13.
Over the past 12 months, YYGH shares have declined about 99.8%.
Price Action: According to market data, YYGH closed Wednesday’s regular session at $0.15, down 3.99% on the day.
The stock then rose 33.29% in after-hours trading to $0.20 following the company’s robotics and AI training lab announcement.
Benzinga Edge Stock Rankings indicate YYGH has negative short-term, medium-term and long-term price trends.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: MMD Creative on Shutterstock.com
Recent Comments