Nextracker Launches AI and Robotics Division with $40M in Acquisitions, Shares Down

Nextracker, a solar tracker manufacturer, has launched an AI and robotics division with $40M in strategic acquisitions. The company has appointed Francesco Borrelli as chief AI and robotics officer and acquired OnSight Technology, which offers AI-driven robotic inspection and fire detection systems. The new division aims to enhance the company's product offerings and drive growth in the solar industry. Shares are down following the announcement.

Nextracker (NASDAQ:NXT), a leading solar technology platform provider, has launched a new AI and robotics business initiative, investing $40 million in strategic acquisitions and appointing Francesco Borrelli as its first chief AI and robotics officer [1][2]. The company aims to enhance its product offerings and drive growth in the solar industry.

The AI and robotics division will integrate AI, machine learning, and advanced robotics into Nextracker’s products and solutions to support global scalability and long-term innovation [2]. Dr. Borrelli, a pioneer in predictive control systems, brings decades of experience in developing and commercializing autonomous technologies across various sectors [2]. He will lead the integration of these technologies to deliver deeper insights, timely actions, and greater customer ROI across Nextracker’s global technology platform.

Nextracker acquired OnSight Technology, a pioneer in autonomous robotic inspection and fire detection systems for solar power plants. OnSight’s AI-driven tools enable predictive maintenance by identifying and forecasting common mechanical and electrical failures, helping asset owners reduce operational risk, improve uptime, and manage site health proactively [2]. The OnSight team has joined Nextracker, and their products are now commercially available in the U.S. with a global rollout planned for next year [2].

Additionally, Nextracker announced two previously undisclosed complementary acquisitions: SenseHawk IP and Amir Robotics. SenseHawk IP enables the creation of high-resolution 3D as-built maps of solar project sites using AI-enabled drone-captured imagery, while Amir Robotics develops a lightweight, water-free robotic cleaning technology designed for daily operation at large-scale solar sites [2].

Nextracker’s stock experienced a slight decrease following the announcement, down by 0.21% to $65.55 [3]. The company’s strong financial performance in the first quarter of fiscal year 2026, with earnings per share (EPS) of $1.16 and revenue of $864 million, may have contributed to the stock’s downward movement [3]. However, the company maintains a robust outlook for the full fiscal year 2026, projecting revenue between $3.2 billion and $3.45 billion, with adjusted EBITDA ranging from $750 million to $810 million [3].

References:
[1] https://seekingalpha.com/news/4473786-nextracker-launches-ai-robotics-division-with-40m-in-strategic-acquisitions-shares-down
[2] https://www.businesswire.com/news/home/20250729097483/en/Nextracker-Launches-New-AI-and-Robotics-Business-with-Technology-Acquisitions-and-New-Executive-Appointment
[3] https://in.investing.com/news/transcripts/earnings-call-transcript-nextracker-q1-2025-beats-earnings-and-revenue-forecasts-93CH-4933319