Tuesday, 02 January 2024 12:17 GMT

AI Stock Redcloud Holdings (Nasdaq: RCT) Soars On Saudi Arabia Deal


(MENAFN- Investor Ideas) (Investorideas Newswire) a go-to platform for big investing ideas, including AI stocks, issues a news and trading alert for RedCloud Holdings plc(Nasdaq: RCT), the company building intelligent infrastructure for global trade.

RedCloud Holdings plc (Nasdaq: RCT ) makes the Nasdaq top percentage gainer list today on news. The stock is trading at 1.0501 +0.4801 (+82.93%) on a volume of over 122 million shares. The stock has a day's high of $1.39.

RedCloud's mission is to build the intelligence infrastructure of global trade through generation and aggregation of proprietary trading and market data from across the FMCG industry through its RedAI platform (“RedAI”). RedCloud provides market intelligence based on proprietary trading data across categories in each of its markets. The company also delivers a 'trading layer' of products for use by its customers to enable intelligent digital exchange of everyday consumer supplies of FMCG products across business supply chains, supported by a payments and lending ecosystem intended to streamline trade. RedCloud believes its platform and associated products and services solve a decades-old problem of how to digitize trade at scale to generate data and intelligence to enable brands, distributors, and retailers to maximize business performance across categories in high-growth consumer markets.

RedCloud has signed a five-year licensing agreement for up to $30 million to deploy its RAID (Realtime AI for Distribution) engine in the Kingdom of Saudi Arabia, targeting one of the world's most critical and complex FMCG markets at a time when global supply chains are under increasing pressure from fragmentation, volatility, and shifting trade flows.

Structured at $6 million per year, based on revenues generated by RAID within Saudi Arabia, the agreement supports the development and rollout of RAID across Saudi Arabia's $68 billion FMCG market, targeting systemic inefficiencies in how goods are bought, distributed, and sold.

Saudi Arabia represents one of the most dynamic and structurally complex FMCG markets globally, where fragmented supply chains and limited real-time visibility continue to distort demand and inventory. RedCloud estimates this has created a nearly $9.4 billion inventory imbalance across the kingdom, driven not by lack of data but by the inability to act on it at speed and scale.

This agreement will operationalize RedCloud's joint venture strategy in the region, aiming to combine local market infrastructure with RAID's developing AI-driven intelligence layer to enable real-time, data-led decision-making across supply chains.

The partnership is aligned with Saudi Arabia's Vision 2030 agenda, supporting the development of a more efficient, digitally enabled, and self-sustaining economy. By embedding intelligent infrastructure into the flow of goods, RedCloud enables faster, more predictable trade, improved product availability, and stronger economic participation across manufacturers, distributors, and retailers.

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