Palladyne AI Shares Are Surging Today: What you Need To know

Vaishali Prayag

December 26, 2024

Palladyne AI Corp. (NASDAQ:PDYN) shares are trading higher on possible continued momentum Thursday. The company announced that it completed the first autonomous tracking flight using its Palladyne Pilot AI software platform on Monday.

What To Know: The test involved a third-party small drone that identified, prioritized and autonomously tracked terrestrial targets. This marked the first time Palladyne's AI platform interfaced with third-party autopilot software, enabling the drone to autonomously navigate while following a target.

Previously, the AI system demonstrated target identification and prioritization on stationary nodes and hovering drones. This new test flight expands the platform’s capabilities and moves it closer to commercialization, expected by the end of first-quarter 2025.

“Once we complete commercialization of Palladyne Pilot — which we expect to happen by the end of the first quarter of 2025 — small, economical drones will finally offer some of the same intelligence capabilities that larger, multi-million-dollar unmanned systems have had for years,” said Dr. Denis Garagic, co-founder and CTO, Palladyne AI.

PDYN Price Action: Palladyne shares were up 44.7% at $7.15 at the time of writing, according to Benzinga Pro.

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