BigBear.ai (BBAI.US) stock surges to a new high in nearly three years after winning a U.S. Department of Defense AI contract, signaling a significant milestone for the company.

BigBear.ai (BBAI.US), an artificial intelligence business intelligence solutions provider, announced on Wednesday that it has received a contract from the Chief Digital and Artificial Intelligence Office (CDAO) of the U.S. Department of Defense to advance the development of its Virtual Predictive Network (VANE) prototype. The news boosted BigBear.ai's stock price by over 44% at the close of Wednesday, hitting a new high in nearly three years. The project aims to help CDAO and the Office of the Secretary of Defense (OSD) better assess news media from potential foreign adversaries through customized artificial intelligence models, enhancing the ability to quickly and accurately evaluate media data related to national security. The VANE prototype aims to enhance CDAO's ability to identify key trends and themes related to potential foreign adversaries, allowing for faster and more informed assessments of media data critical to national security. VANE integrates and analyzes vast amounts of data points to create clarity for military and government applications in a multi-domain environment, enabling the prediction of adversarial activities in complex scenarios. The contract includes a transition plan to achieve future deployments in CDAO's Advana environment, enabling broader users across the Department of Defense's combatant commands to access this advanced artificial intelligence capability. Ryan Legge, President of the National Security Division at BigBear.ai, expressed his pride in the company's ongoing efforts to advance U.S. defense technology. He said the contract not only highlights the value of artificial intelligence in addressing geopolitical issues but also positions BigBear.ai at the forefront of providing innovative solutions for the U.S. military, aimed at enhancing its intelligence operations capabilities. The company is committed to providing advanced tools for frontline personnel to better predict and respond to threats. BigBear.ai is a technology company focused on artificial intelligence and machine learning layers and applies them to automated decision-making processes. The company provides data-driven artificial intelligence decision solutions for enterprises in various sectors, including government organizations, defense agencies, and more. Industries covered include manufacturing and warehouse operations, healthcare and life sciences, among others. BigBear.ai's solutions can be applied to autonomous systems such as geospatial tracking, as well as cybersecurity, supply chain and logistics, and professional services.