15 Important AI News and Ratings on Investors’ Radar

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12. T Stamp Inc. (NASDAQ:IDAI)

Number of Hedge Fund Holders: 3

T Stamp Inc. (NASDAQ:IDAI) is a software company that develops proprietary artificial intelligence-powered solutions, particularly in identity authentication. On January 6, the company announced a strategic transaction with Qenta Inc., a financial technology company. Under the transaction, Qenta will be spinning off Goldstar KYC technology into a newly formed subsidiary, QID Technologies LLC (“QID”). Trust Stamp will have a 10% ownership interest in the new entity, while the company itself will provide a non-exclusive license of its AI-powered identity technologies to QID in exchange for a single $1m license fee receivable to be paid in three installments over Q1 of 2025. Starting January 1st, 2025, QID will also be paying a monthly service fee capped at $3.6 million annually to Trust Stamp for business development, product development, and product operations for identity and privacy services and solutions. The projected $3.6m in billed revenue is anticipated to result in a net cash inflow of $3.3m.

“This strategic transaction brings together Trust Stamp’s unique AI-powered identity authentication and tokenization technology, Qenta’s global asset tokenization capability, and the power of the QOS permissioned blockchain. The result is a robust identity and asset ecosystem designed to resist threats, including quantum computing, ransomware, and deepfake technologies. From a Trust Stamp perspective, the transaction is immediately accretive in that we have been able to restructure and reallocate existing resources to service this new revenue stream without incurring additional expenses. QID is a perfect fit for our mission of accelerating secure financial and societal inclusion. The partnership allows our AI-powered technology to be deployed in a wider range of large-scale use cases, including national identity programs while providing Trust Stamp with potentially valuable equity participation and offsetting a significant proportion of our operating costs”.

­- Gareth N. Genner, CEO of T Stamp Inc. (NASDAQ:IDAI)

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