Shares of IT company Blue Cloud Softech Solutions Limited are trading in green even as markets remain volatile. The company's stock started the trading session flat at Rs 22.68 but later gained to Rs 23.70, representing a 4.49 per cent gain. Last seen, the stock was trading at Rs 22.92, up 1.06 per cent, and the company's market cap stood at Rs 1,002.14 crore. This rise in the stock comes after the company released its latest exchange filing today.
Company forms JV
The company has informed exchanges that it has formed a joint venture (JV) with its US partner, Byte Eclipse Technologies Inc., further expanding its previously signed strategic collaboration agreement.
This JV is designed for the design, manufacturing, and global marketing of Edge-AI microprocessor chipsets. These chipsets will be developed using technology transfer from an Israeli R&D partner.
Under this joint venture, Blue Cloud will develop a next-generation Edge-AI chip called 'EclipseX1', designed for high-reliability and low-latency AI applications. Byte Eclipse will sell this chip through its network in the US and Europe to sectors such as industrial automation, IoT, automotive telematics, and EV charging infrastructure.
JV for 5 years
This JV is for five years, and Byte Eclipse has been given exclusive rights in specified sectors in the US and Europe. This partnership is expected to generate a business potential of US$65-80 million.
Technology-wise, EclipseX1 is a custom RISC-V-based Edge-AI SoC, featuring a Neural Processing Unit (NPU), a security engine, and TensorFlow Lite and ONNX support. It delivers 12 TOPS of AI performance from just 10W of power.
This chip will be useful in these industries:
- Industrial automation: for real-time control, sensor fusion, and predictive maintenance
- Automotive telematics/TCM: for ADAS, diagnostics, and V2X connectivity
- EV charging stations: for load management, charging control, and energy efficiency
