Reported about 23 hours ago
Symbotic's shares surged approximately 14% following the announcement that the automation firm will acquire Walmart's robotics division for $200 million. This move aims to enhance Walmart's automated supply chain, with Symbotic leveraging its AI-enabled robotics platforms to optimize operations at Walmart's delivery and pickup centers. The agreement also includes Walmart funding a $520 million development program, with the deal expected to close in the second quarter of fiscal 2025.
Source: YAHOO