24/7 Market News Snapshot 21 November, 2024 – Veea Inc. Common Stock (NASDAQ:VEEA)

November 21, 2024

DENVER, Colo., 21 November, 2024 (247marketnews.com) – (NASDAQ:VEEA) are discussed in this article.
Veea Inc. (VEEA) is witnessing a significant surge in market performance, trading at $3.570 in pre-market sessions, marking an impressive increase of 26.60% from its last closing price of $2.820, alongside a robust trading volume of 970.98K. This upward trajectory reflects strong investor confidence and enthusiasm, indicating an optimistic outlook for the company’s potential.

In parallel, Veea Inc. has formed a strategic global partnership with DeepGreenX Group Inc. to transform the green energy landscape. This collaboration aims to introduce an AI-driven operating system that accelerates the shift towards sustainable energy through a Web 3.0 platform-as-a-service (PaaS). By leveraging Veea’s advanced edge computing capabilities, the partnership will establish a cybersecure Decentralized Physical Infrastructure Network (DePIN), allowing communities to develop applications using blockchain and Contextual AI.

The partnership also sets the stage for a comprehensive infrastructure investment with a projected budget of $10 billion, including $2.8 billion earmarked for the rollout of the Veea Edge Platform™ by 2025. This initiative will enable the integration of sustainable energy assets—such as wind, hydro, and alternative fuels—transforming them into tradable financial instruments on DeepGreenX’s global exchange, alongside facilitating the trading of carbon credits generated from various sources.

Barclay Knapp, CEO of DeepGreenX, highlighted the importance of real-time Contextual AI applications in overcoming global energy challenges. Meanwhile, Allen Salmasi, co-founder and CEO of Veea, expressed enthusiasm about developing a hyperconverged platform designed to support a dynamically managed global virtual energy grid, offering a market-driven approach to energy production and distribution. This groundbreaking partnership represents a significant step forward in energy management and sustainability.

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