Actelis Networks nasdaq Asns Stock Skyrockets on Military Contract Wins

Actelis Networks (NASDAQ: ASNS) Stock Skyrockets on Military Contract Wins

Actelis Networks (NASDAQ: ASNS) stock skyrocketed during intraday trading Wednesday after the company secured contracts to supply cyber-hardened networking tech to three military bases.

Actelis Networks revealed that it secured new orders for its cyber-hardened networking technology to deploy on three U.S. military bases.

The developments come on the heels of Actelis achieving key certifications earlier in 2024. The company attained accreditation from the Joint Interoperability Test Command and secured its listing on the Department of Defense Information Network (DoDIN) approved products list. Additionally, the company secured the U.S. Department of Commerce National Institute of Standards and Technology (NIST) certification for the FIPS 140-2 cryptographic standard.

Actelis’ networking solution aims to modernize military bases by providing immediate fiber-grade connectivity to Internet of Things (IoT) devices and systems. This advancement eliminates extensive engineering or construction work, potentially saving time and financial resources for military and federal installations.

The development comes when the U.S. military increasingly leverages artificial intelligence (AI) capabilities to bolster its operational effectiveness. In February 2024, the military confirmed AI use in target identification during air strikes in the Middle East. Moreover, the U.S. Navy’s recent trademarking of “NavyGPT” signals a broader adoption of AI within the military.

Actelis Networks (NASDAQ: ASNS) Stock Price Action

On Wednesday, ASNS stock soared 691.48%, closing at $3.72, marking a 675.48% increase for the week. The trading volume was 89,575,464 shares, significantly higher than the average daily volume of 1.91 million.