Palladyne AI shares surge 19.21% intraday after securing contract with major U.S. defense contractor for missile propulsion subsystem.

Palladyne AI surged 19.21% intraday, with the company announcing a contract with a major U.S. defense contractor to deliver a critical mission subsystem for missile propulsion under an existing U.S. missile systems program. The company specializes in AI-driven collaborative autonomous solutions, advanced avionics, precision manufacturing components, drones, and advanced aerospace engineering services.