On April 9, shares of BlackBerry (BB.TO), which can be accessed in a new tab, saw an increase of over 7% on Tuesday. This surge came in the wake of the Canadian firm announcing a partnership with Advanced Micro Devices (AMD.O), also accessible in a new tab, to introduce a new platform aimed at enhancing robotics capabilities within the industrial and healthcare sectors. The new collaboration was unveiled at the Embedded World conference held in Nuremberg, Germany, and will leverage BlackBerry's QNX platform. Following the announcement, BlackBerry's shares trading in the United States reached their highest point in almost three months before closing at $3.
The firm, whose income stems from Cybersecurity services and software licensing across various industries, has found it challenging to expand in recent times. Its stock, traded on the New York Stock Exchange, has seen a 13% decline since the beginning of the year, in contrast to the S&P 500 index's (.SPX) increase of 9%.
According to Chetan Khona, the senior director for industrial, vision, healthcare, and sciences markets at AMD, the new technology "advances the capabilities of robotic technology far beyond the limitations previously encountered," as stated in a press release.