logo
Arrive AI selects Synoptek as a Strategic IT Partner

Arrive AI selects Synoptek as a Strategic IT Partner

Cision Canadaa day ago
COSTA MESA, Calif. and INDIANAPOLIS, July 14, 2025 /CNW/ -- Arrive AI (NASDAQ: ARAI) — a pioneering autonomous delivery network anchored by Arrive Points™ — has selected Synoptek as a strategic IT partner to enable its rapid growth and global ambitions. Synoptek will provide Arrive AI with all the IT solutions it needs to support its business.
With a recent $40 million injection of funding from Streeterville Capital, Arrive AI is entering a critical growth phase. The company is preparing to launch its patented, autonomous delivery platform later this summer and expects to double its staff size.
"Synoptek's strategic approach, deep expertise, robust tech stack and strong partnerships with Microsoft and ServiceNow made it a clear choice," said Mark Hamm, COO of Arrive AI. "We were searching for a partner who could move at our pace and help us build a resilient IT foundation. After conducting an exhaustive search, we knew Synoptek would be the partner we were looking for to provide all of the IT capabilities we need to take our business to the next level."
Under the three-year agreement, Synoptek will contribute to the solution definition, implementation and IT management, including, cybersecurity, enterprise-grade IT and 24/7 AI-enabled managed services operations. This engagement deepens Synoptek's presence in the high-growth logistics and manufacturing sector and aligns with its mission to deliver smart, secure and connected IT environments.
"We're proud to serve as an extension of the Arrive AI team," said Salil Godika, CEO at Synoptek. "Together, we are building a resilient and secure IT backbone that supports innovation and scale. We deliver focused solutions that incorporate exceptional customer experiences, digital application engineering, and agile infrastructure. We are committed to providing Arrive AI with the technology foundation it needs to grow with confidence."
Synoptek will provide advisory services and information sharing around security, AI and application innovation as Arrive AI continues to push boundaries in the AI transportation and logistics space.
About Arrive AI
Arrive AI's patented Autonomous Last Mile (ALM) platform enables secure, efficient delivery to and from a smart, AI-powered mailbox, whether by drone, ground robot or human courier. The platform provides real-time tracking, smart logistics alerts and advanced chain of custody controls to support shippers, delivery services and autonomous networks. By combining artificial intelligence with autonomous technology, Arrive AI makes the exchange of goods between people, robots and drones frictionless and convenient. Its system integrates with smart home devices such as doorbells, lighting and security systems to streamline the entire last-mile delivery experience. Learn more at www.arriveai.com.
About Synoptek
Synoptek is a global, full-service business and digital technology solutions provider and advisory firm that helps companies envision, transform, and evolve their customer experiences, application ecosystems, and infrastructures. As a systems integrator and managed technology provider, Synoptek partners with organizations worldwide, helping them navigate the ever-changing technology landscape and build solid tech foundations for their businesses.
With its comprehensive offerings, global workforce, and strategic technology partnerships, Synoptek helps companies optimize their IT environments and enable innovation through technology. With growth, ownership, inclusiveness, and philanthropy embedded in its DNA, Synoptek is committed to delivering improved business results and unmatched service to all its stakeholders.
Cautionary Note Regarding Forward Looking Statements
This news release and statements of Arrive AI's management in connection with this news release or related events contain or may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements related to the closing, and the anticipated benefits to the Company, of the private placement described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as "expects", "anticipates", "intends", "plans", "believes", "potential", "will", "should", "could", "would", "optimistic" or "may" and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management's current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors which may be beyond our control. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. Potential investors should review Arrive AI's Registration Statement for more complete information, including the risk factors that may affect future results, which are available for review at www.sec.gov. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Markets Hit Record Highs, Banks Report Q2 Results: Stocks to Watch
Markets Hit Record Highs, Banks Report Q2 Results: Stocks to Watch

Globe and Mail

time28 minutes ago

  • Globe and Mail

Markets Hit Record Highs, Banks Report Q2 Results: Stocks to Watch

Stocks crept higher to kick off an eventful week, with the Nasdaq notching a record closing high ahead of the official start of the second-quarter earnings season. Over the weekend, President Trump upped the ante in regards to his tariff agenda, promising 30% duties on Mexico and the European Union. Officials from both countries are pushing to make a deal before the August 1 st deadline. Adding to the headlines yesterday, Trump ramped up tensions with Russia over the war in Ukraine, threatening to impose 'secondary' tariffs of up to 100% if a deal is not struck soon. Markets seemed to shrug off the latest tariff flareups, looking past any uncertainty as the Q2 earnings season gets underway. Almost 100 companies are on deck to report results this week, including 38 S&P 500 members. Several big banks reported this morning before the open, with the majority of the pack outpacing estimates. A mainly in-line CPI inflation report added to the bullish sentiment. It'll be interesting to see how stocks react to earnings. Looking at the second quarter as a whole, S&P 500 companies are expected to witness 4.7% earnings growth on 4% higher revenues. These figures represent a significant deceleration from the growth trend of recent quarters. Recapping the First Half of the Year It's an exciting time in the stock market right now with the major U.S. indexes eclipsing their former all-time highs. As we make our way deeper into the third quarter, let's take a step back and try to determine what may lie ahead for the rest of 2025 and beyond. It was certainly a first half to remember. The see-saw action translated to one of the most volatile first halves in recent memory. President Trump's trade war sent shockwaves throughout the financial markets, resulting in a nasty correction earlier in the year as investors priced in potential trade outcomes. By April, market performance began to turn the corner, improving rapidly as investors gained more clarity amid signs of trade-talk progress. The V-shaped, relentless move morphed into a lockout rally that left nonbelievers in the dust. And because many investors missed out on big gains, they will continue to snap up shares on weakness, which should help lift stocks even further. The S&P 500 just delivered one of the greatest three-month rallies in history, advancing more than 25% off the April lows. As we can see below, the current version of the blue-chip index has only accomplished this feat five other times since its inception in 1957: In the twelve months following each of these instances, the S&P 500 delivered double-digit gains each time. As the saying goes, strength begets strength. Still, the doubters and naysayers remain prevalent. This is certainly one of the most hated market rallies since the surge in stocks following the onset of the COVID-19 pandemic. There are always reasons that critics can point to as to why stocks can't continue higher, but as we know, stocks climb a wall of worry. Stocks to Watch Megabank JPMorgan Chase JPM led a slew of banks reporting quarterly earnings Tuesday morning. The banking giant reported Q2 earnings of $4.96 per share, beating the Zacks Consensus Estimate of $4.51/share by 9.98%. The bottom line improved 12.7% versus the year-ago period. Revenues for the second quarter of $44.91 billion also topped estimates. JPM stock, a Zacks Rank #2 (Buy), ticked down slightly but remains in a strong uptrend and near 52-week highs: Outside of financials, leading chipmaker Nvidia NVDA saw its stock pop about 4% in the early going after the company stated it is filing applications with the U.S. government to resume sales of its previously restricted H20 GPUs to China. 'The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,' the company said in a prepared statement. Nvidia will be one of the last companies to report quarterly results this season in late August. The stock has broken out to all-time highs and is resuming its former momentum: Bottom Line Positive earnings results out of the gate bode well for the remainder of the season. A tame inflation trend in the face of President Trump's tariffs adds to the bullish case. Historical statistics also point to more general market strength over the next twelve months. Make sure you're taking advantage of all that we offer here at Zacks. Disclosure: JPM is a long-term holding in the Zacks Income Investor portfolio. NVDA is a core holding in the Zacks Headline Trader portfolio. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. JPMorgan Chase & Co. (JPM): Free Stock Analysis Report

Building 1,285 new homes in Toronto Français
Building 1,285 new homes in Toronto Français

Cision Canada

time32 minutes ago

  • Cision Canada

Building 1,285 new homes in Toronto Français

TORONTO, July 15, 2025 /CNW/ - Solving Canada's housing crisis requires immediate action to bring down costs. To provide Canadians with increased access to affordable and sustainable housing, the government is supporting the construction of 1,285 new rental homes with an investment of over $650 million through the Apartment Construction Loan Program (ACLP). The announcement was made by Michael Coteau, Member of Parliament for Scarborough-Woburn, on behalf of the Honourable Gregor Roberston, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada, alongside Michael Thompson, Councillor for Scarborough Centre. The 1,285 rental units will be comprised of three 45, 35, and 41-storey residential towers, located at 25 Borough Drive, and will be developed by Oxford Properties Group, the global real estate arm of OMERS. The development will feature residential and retail space and will offer a broad unit mix of 51 studios, 693 one-bedrooms, 411 two-bedrooms and 130 three-bedroom units, including 23 townhomes for people from various economic backgrounds, age demographics, and family structures. The site is located close to Scarborough Town Centre Shopping mall and will be near Scarborough Centre TTC station, which include GO Transit, and the future Scarborough Subway Expansion. As we build a strong Canadian housing sector, purposeful collaboration will be essential. That means working hand-in-hand with our partners to bring down costs and build homes at a scale and speed not seen since the Second World War. Quotes: "Our government is committed to driving housing supply to bring down costs. This project will create more rental homes for people living and working in Scarborough and is an example of what's possible when we work together in partnership with the private sector. This is another step forward in our bold, ambitious plan to build Canada strong." – The Honourable Gregor Robertson, Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada "We are building more affordable homes to address the housing crisis. The project at 25 Borough Drive will create 1,285 new homes for Torontonians, including studios, one-bedroom, two-bedroom and three-bedroom apartments and townhomes. The City of Toronto is proud to support this project through the Rental Housing Supply Program. We are stronger together, working with the Government of Canada to create more affordable homes in Scarborough to meet the needs of our growing city."" – Olivia Chow, Mayor of Toronto "Oxford is a high-conviction investor in the living sector, and we're proud to leverage our strong development expertise in Canada to help address our nation's housing crisis. The ACLP loan allows us to accelerate our plan to intensify the lands at our Brimley site to deliver much-needed housing solutions in Scarborough. Our partnership with CMHC is a tremendous example of how a public-private solution can drive transformative, meaningful impact for communities." – Daniel Fournier, Executive Chair at Oxford Properties Quick Facts: The National Housing Strategy (NHS) is a 10+ year, $115+ billion plan to give more Canadians a place to call home. Progress on programs and initiatives are updated quarterly on the Housing, Infrastructure and Communities Canada (HICC) website. The Housing and Infrastructure Project Map shows affordable housing projects that have been developed. As of March 2025, the federal government has committed $65.84 billion to support the creation of over 166,000 units and the repair of over 322,000 units. These measures prioritize those in greatest need, including seniors, Indigenous Peoples, people experiencing or at risk of homelessness, and women and children fleeing violence NHS is built on strong partnerships between the federal, provincial, and territorial governments, and continuous engagement with others, including municipalities, Indigenous governments and organizations, and the social and private housing sectors. This includes consultations with Canadians from all walks of life, and people with lived experience of housing need. All NHS investments delivered by the federal, provincial, and territorial governments will respect the key principles of NHS that support partnerships, people, and communities The $55 billion Apartment Loan Construction Program (ACLP) is providing low-cost financing to support more than 131,000 new rental homes across Canada by 2031 – 2032. The ACLP provides fully repayable low-interest loans to encourage the construction of more rentals for middle-class Canadians. It creates a positive impact to the housing system at minimal cost to taxpayers. A stable supply of purpose-built rental housing is essential for more people in Canada to have access to housing that meets their needs. As of March 2025, CMHC has committed $23.35 billion in loans through ACLP to support the creation of more than 59,000 rental homes. It is one of many programs and initiatives under the National Housing Strategy designed to help address housing needs across the housing continuum. It complements other NHS initiatives that focus on funding affordable housing units for lower-income households. Budget 2024 announced enhancements to the ACLP which includes the program being extended from 2027 – 2028 to 2031 – 2032. The enhancements will allow applicants to apply for funding for on- and off-campus student housing to support post-secondary educational institutions as well as independent seniors housing. There are no longer minimum requirements relating to energy efficiency and accessibility, instead applicants will benefit from making stronger commitments to desired rental supply and social outcomes. Funding provided for 25 Borough Drive is as follows: $650 million in fully repayable loans from the federal government, through the Apartment Construction Loan Program $2.5 million from City of Toronto's Rental Housing Supply Program Additional Information: Visit for the most-requested Government of Canada housing information. CMHC plays a critical role as a national facilitator to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to homeownership and the creation and maintenance of rental supply. We also actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Follow us on X, YouTube, LinkedIn, Facebook and Instagram.

Why AMD Stock Is Surging Today
Why AMD Stock Is Surging Today

Globe and Mail

timean hour ago

  • Globe and Mail

Why AMD Stock Is Surging Today

Key Points AMD stock is soaring following news that Nvidia will receive licensing approval to sell its H20 processors in China. Export approvals for Nvidia's H20 suggest that AMD's own AI processors for the Chinese market could receive the necessary licenses. AMD's being able to sell advanced AI processors to China could create multiple wins for investors. 10 stocks we like better than Advanced Micro Devices › Advanced Micro Devices (NASDAQ: AMD) stock is getting a big boost today thanks to major news for its most important competitor. The semiconductor specialist's share price was up 7.2% as of 11 a.m. ET. Meanwhile, the S&P 500 index was flat on the day, and the Nasdaq Composite index was up 0.6%. The stock had been up as much as 8.5% earlier in trading. Semiconductor investors are shrugging off news that inflation actually came in higher than expected in June and focusing on a big win for Nvidia. The artificial intelligence (AI) leader has secured permission to sell its H20 processor and other hardware in China, and the development could also be good news for AMD. AMD stock rises as Nvidia scores big win Nvidia said today that it has received assurances from the U.S. government that it will be granted export licenses to sell its H20 processors and other AI-related hardware to China. The news comes after new restrictions were implemented in April that prevented the company's H20 hardware from being sold into the Chinese market without a license. At the time it seemed very unlikely that the export licenses would be granted, but the Trump administration appears to be making a significant reversal on the issue. The decision to allow Nvidia's H20 processor to be sold to Chinese customers comes after a recent meeting between President Trump and Nvidia CEO Jensen Huang, and it looks to be a major development in wider trade negotiations between the U.S. and China. With Nvidia's H20 processor seemingly on track to receive the necessary export licensing, there's a good chance that AMD's specialized AI processors for the Chinese market will also be given export approval. What's next for AMD? Approval to sell its specialized processors in China would be a major positive development for AMD stock. In addition to opening up substantial revenue streams for the company for the batch of AI processors it has already designed to meet specific requirements for export to the Chinese market, easing export restrictions would also seemingly reduce the risk that the sale of lower-end hardware could also be restricted. While there's still significant risk on the geopolitical front, allowing the sale of capable AI processors to China suggests the potential for a significant improvement in U.S. trade relations. If so, AMD stock could continue to see bullish business-specific catalysts in addition to valuation tailwinds for the broader market. Should you invest $1,000 in Advanced Micro Devices right now? Before you buy stock in Advanced Micro Devices, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Advanced Micro Devices wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $680,559!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,005,670!* Now, it's worth noting Stock Advisor's total average return is 1,053% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 15, 2025

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store