Latest news with #defensecontract
The Guardian
a day ago
- Business
- The Guardian
xAI announces $200m US military deal after Grok chatbot had Nazi meltdown
The week after its Grok chatbot identified itself as 'MechaHitler' and generated antisemitic posts, Elon Musk's xAI firm announced a contract with the US Department of Defense worth nearly $200m. The deal is for developing and implementing artificial intelligence tools for the agency. The DoD on Monday also announced similar contracts with $200m ceilings with several other major US-based artificial intelligence developers, including Google, Anthropic and OpenAI. The agency is partnering with the General Services Administration to make these companies' AI tools available for use throughout the federal government. 'Leveraging commercially available solutions into an integrated capabilities approach will accelerate the use of advanced AI as part of our joint mission-essential tasks in our warfighting domain as well as intelligence, business, and enterprise information systems,' the US chief digital and AI officer Dr Doug Matty said in a statement. The contracts deepen the US military's ties with AI developers and are poised to expand the use of artificial intelligence within the US government after Musk's so-called 'department of government efficiency' (Doge) oversaw mass firings of workers throughout federal agencies. Until Musk's recent falling out with Donald Trump, the xAI founder was de facto leader of Doge as it gutted government agencies and in some cases pushed for departments to use the Grok chatbot. xAI's contract announcement comes after the company was forced to issue a public apology after Grok posted a string of responses on X last week that included promoting Nazi ideology and rape fantasies. The company claimed that it fixed the issue and subsequently unveiled its latest AI model with a $300 a month subscription for an advanced version of the tool. The DoD's contract will give xAI a boost of revenue as it seeks to compete with more established AI developers like OpenAI, which is led by Musk's former associate turned rival, Sam Altman. Musk has been heavily promoting xAI and attempting to use other parts of his tech empire to support its future, including having SpaceX invest $2bn into the startup, allowing it to acquire X, formerly, Twitter, and announcing on Sunday that Tesla shareholders will vote on their own investment in xAI. xAI announced the deal and the creation of what it calls 'Grok For Government' in a post on its website on Monday, detailing that in addition to its publicly available products it would create custom AI-powered applications for potential use in healthcare, national security and other public services. 'Under the umbrella of Grok For Government, we will be bringing all of our world-class AI tools to federal, local, state, and national security customers,' xAI said in a statement on its website. 'These customers will be able to use the Grok family of products to accelerate America – from making everyday government services faster and more efficient to using AI to address unsolved problems in fundamental science and technology.' Sign up to TechScape A weekly dive in to how technology is shaping our lives after newsletter promotion Musk has long complained that AI chatbots are designed to promote 'woke' ideology and vowed his Grok product would be 'maximally truth seeking'. It has repeatedly run into controversy over promoting conspiracies and falsehoods, including earlier this year giving unprompted responses that made false claims of 'white genocide' taking place in South Africa – echoing claims that Musk has made himself. Ethics watchdogs, Democratic lawmakers and privacy advocates have expressed concerns about how Musk and Doge have implemented AI in government and gained access to sensitive data while embedded at government agencies. Doge staffers previously fed government data into a custom version of Grok's chatbot in a potential violation of privacy and security laws, Reuters reported in May.
Yahoo
3 days ago
- Business
- Yahoo
M-tron Industries Secures $5.5M Production Contract for US Naval Weapon System
M-tron Industries Inc. (NYSE:MPTI) is one of the best new tech stocks with huge upside potential. On June 23, M-tron Industries announced that it had been awarded a $5.5 million production contract, which comes from a top US Department of Defense prime contractor and is in support of a major US naval weapon system. The contract includes multiple high-performance RF components, which include rugged crystal filters and lumped element filters. These components are engineered for exceptional durability and precision. The latest award showcases Mtron's position as a long-standing supplier for this particular program for nearly a decade. Work under the contract will be performed at Mtron's manufacturing facility located in Orlando, Florida, and is expected to continue through 2026. The broader naval weapon system program itself is projected to remain in production until at least 2035. M-tron Industries Inc. (NYSE:MPTI) designs, manufactures, and markets frequency and spectrum control products for various applications in the US and internationally. While we acknowledge the potential of MPTI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Sign in to access your portfolio
Globe and Mail
6 days ago
- Business
- Globe and Mail
Northrop Clinches Deal to Support E-2D Advanced Hawkeye Jets
Northrop Grumman Corp.'s NOC business unit, Northrop Grumman Systems, recently clinched a modification contract involving its E-2D Advanced Hawkeye jets. The award has been provided by the Naval Air Systems Command, Patuxent River, MD. Details of NOC's Deal Per the terms of the deal, Northrop will provide support for integrating production attrition capabilities, including updates to software and hardware throughout their life cycle. It covers a wide range of tasks, such as design, programming, integration, manufacturing, quality checks and testing, for the E-2D Advanced Hawkeye aircraft, with varying levels of effort over time. Valued at nearly $46.7 million, the contract is anticipated to be completed by May 2029. The work related to this contract will be executed in multiple locations across the United States. What Lies Next for NOC Stock? Rising military conflicts, terrorism and border disputes, along with rapid technological advancements in combat jets, have led nations to increase their defense spending on combat-proven jets, which constitute an integral part of their defense structure. This is likely to have prompted the Mordor Intelligence firm to forecast a compound annual growth rate of 4.7% for the global military aviation market during the 2025-2030 period. Such growth prospects should benefit Northrop, which has been a pioneer in the development of manned aircraft. The company's product line includes a wide range of defense aircraft like E-2C Hawkeye 2000, E-130J TACAMO, F-5 Tiger and B-2 Spirit Stealth. In particular, Northrop's E-2D Advanced Hawkeye aircraft provides combat management, air and missile defense, and multiple sensor fusion capabilities in an airborne system. These offer the warfighter greater battlespace awareness, particularly in the domain of information operations. These features of the E-2D Advanced Hawkeye jets must have been boosting its demand, ushering in solid order flows, like the latest contract win, and in the future, should continue to steadily contribute to NOC's revenue growth. Opportunities for Other Aerospace Stocks Other aerospace companies that are likely to benefit from the expanding global military aviation market are discussed below: The Boeing Company BA: The company offers a comprehensive portfolio of the most advanced aircraft in the combat market, which includes F/A-18 Super Hornet, F-15EX, CH-47 Chinook, Chinook Block II and EA-18G Growler. Boeing boasts a long-term (three to five years) earnings growth rate of 18.1%. The Zacks Consensus Estimate for BA's 2025 sales suggests an improvement of 25.6%. Lockheed Martin Corp. LMT: The company is among the leaders in the combat aircraft space, with its product portfolio constituting some of the most advanced military aircraft, such as the F-35 Lightning II, F-21, F-22 Raptor and F-16 Fighting Falcon. Lockheed boasts a long-term earnings growth rate of 10.5%. The Zacks Consensus Estimate for LMT's 2025 sales implies an improvement of 4.7%. Embraer S.A. ERJ: The company offers a comprehensive portfolio of the most advanced aircraft in the combat market, which includes the A-29 Super Tucano, P600 AEW&C and the C-390 Millennium military multi-mission aircraft. The Zacks Consensus Estimate for ERJ's 2025 sales indicates growth of 15.4%. The company delivered an average earnings surprise of 150.60% in the last four quarters. NOC Stock Price Movement In the past month, Northrop shares have risen 4% compared with the industry 's growth of 2.8%. NOC's Zacks Rank Northrop currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Higher. Faster. Sooner. Buy These Stocks Now A small number of stocks are primed for a breakout, and you have a chance to get in before they take off. At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We've combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month. You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days. Download the report free now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Embraer-Empresa Brasileira de Aeronautica (ERJ): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Globe and Mail
10-06-2025
- Business
- Globe and Mail
RTX Secures a $647M Contract to Support AN/SPY-6(V) Family of Radars
RTX Corporation 's RTX business segment, Raytheon, recently secured a modification contract worth $646.5 million to exercise options for hardware production of the AN/SPY-6(V) family of radars. The award has been offered by the Naval Sea Systems Command, Washington, D.C. A major portion of the work related to this deal will be executed in Andover, MA; San Diego, CA; Sykesville, MD; and Scottsdale, AZ. The contract is projected to be finished by September 2028. Importance of RTX's AN/SPY-6(V) Family of Radars RTX's AN/SPY-6 is a variant of its SPY-6 radar family that can protect against ballistic missiles, cruise missiles, hostile aircraft and surface ships at the same time. They offer various advantages over conventional radars, including a longer detection range, higher sensitivity and more accurate discrimination. Its solid demand is evidenced by the fact that SPY-6 radars are being delivered and integrated onto all the Navy's newest ships, including DDG 51 Flight III destroyers, frigates, aircraft carriers and amphibious warships. RTX's Growth Opportunities Rising geopolitical tensions, increased defense spending and the need for advanced threat detection are driving demand for military radars. This must have prompted the Mordor Intelligence firm to project a CAGR of 5.2% for the military radar market in the 2025-2030 period. Such growth projections bode well for prominent radar manufacturers like RTX. RTX's product portfolio consists of varied radars, such as AN/TPY-2, AN/APG-79, APG-82(V)1, GhostEye MR and a few more, which enjoy solid demand in the global military radar market. Opportunities for Other Defense Stocks Some other defense contractors that manufacture radars and are thus projected to gain from the expanding global military radar market have been discussed below: Lockheed Martin Corp. LMT: The company's radars are the choice of more than 45 nations across six continents. Its product portfolio consists of varied radars like TPY-4, AN/APY-9 Radar, AN/TPQ-53 Radar System, SPY-7, TPS-77 and Sentinel A4. LMT has a long-term (three to five years) earnings growth rate of 10.5%. The Zacks Consensus Estimate for the company's 2025 sales indicates year-over-year growth of 4.7%. Northrop Grumman Corp. NOC: The company is a pioneer in manufacturing Active Electronically Scanned Array radars, with more than 60 years of experience. Its diverse product portfolio also includes a handful of radars like AN/ZPY-5 VADER, AN/TPS-80 G/ATOR, AN/SPQ-9B and HAMMR. Northrop has a long-term earnings growth rate of 3.3%. The Zacks Consensus Estimate for the company's 2025 sales indicates year-over-year growth of 2.8%. L3Harris Technologies, Inc. LHX: The company's product portfolio includes the SPS-48 land-based surveillance radar, AN/APY-11 Multimode radar, Tactical Air Surveillance radar, AN/SPS-48G Long range 3D surveillance radar and many more. L3Harris has a long-term earnings growth rate of 12%. The Zacks Consensus Estimate for LHX's 2025 sales implies an improvement of 1%. RTX Stock Price Movement In the past year, shares of RTX have risen 31.8% compared with the industry 's growth of 15.5%. RTX's Zacks Rank RTX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report L3Harris Technologies Inc (LHX): Free Stock Analysis Report RTX Corporation (RTX): Free Stock Analysis Report This article originally published on Zacks Investment Research (
CNA
10-06-2025
- Business
- CNA
Proximus, Thales win contract to modernise NATO IT infrastructure
Belgium's Proximus and France's Thales have won a major NATO contract to modernise the alliance's IT infrastructure, the two companies said on Tuesday. The Belgian telecoms provider and the French defence group have been selected by the NATO Communications and Information Agency to manage and operate its core network until the end of 2029, they said in a joint statement. Financial details of the contract were not disclosed by the companies. Belgian newspaper L'Echo reported the deal could be worth more than 100 million euros ($113.9 million). Thales will provide secure cloud infrastructure while Proximus will upgrade Wi-Fi networks at NATO's sites in The Hague, Netherlands, and Braine l'Alleud, Belgium, and supply 5,000 laptops.
