ChronoScale Adds AI Contracts, Targets $1 Billion Revenue Run Rate
New and expanded agreements support the company’s projected 2027 run rate, subject to deployment, power, equipment and financing conditions.
ChronoScale Holdings shares rose after the company expanded an AI infrastructure agreement and signed a contract with a new customer. The agreements support a projected annualized revenue run rate of $1 billion by the third quarter of 2027.
CEO Cenly Chen said the contracts, alongside existing agreements and the deployment schedule, provide for that run rate during calendar 2027. Reaching the target depends on timely deployment and commissioning, available power and equipment, and access to capital on acceptable terms.
The company also completed the sale of its Ekso Bionics business to Wandercraft. ChronoScale did not disclose financial terms, and said the sale would concentrate resources on AI infrastructure for training, inference and high-performance computing.
As of 15:14 UTC Friday, ChronoScale shares traded at $20.27, up 4.65% since the previous close. Benzinga reported the shares at $19.70 when its article was published.
ChronoScale has a Strong Buy consensus rating and an average price forecast of $32, according to the article. Northland Capital Markets initiated coverage on Sept. 18 with an Outperform rating and a $32 price target.
This article was produced with the help of AI technology.
Source: Yahoo Finance
