10 Important AI News and Ratings for Today

6. Symbotic Inc. (NASDAQ:SYM)

Number of Hedge Fund Holders: 15

Symbotic Inc. (NASDAQ:SYM) develops automation technologies to optimize pallet and case processing in large warehouses, improving supply chain operations for retail companies.

On January 28, Symbotic (NASDAQ:SYM) announced that it finalized its acquisition of Walmart’s Advanced Systems and Robotics business and signed a commercial agreement to develop AI-powered automation for Walmart’s Accelerated Pickup and Delivery centers. Walmart is funding Symbotic’s development of improved fulfillment systems, committing $520 million, including an initial $230 million payment. If performance goals are met, Walmart plans to deploy systems at 400 stores, with the option to expand further. This deal could add over $5 billion to Symbotic’s backlog and broaden its U.S. market reach.