Cerence (CRNC) Stock Rises: Signs Largest Contract in Company History

Cerence Inc. (CRNC) price today is up 9.25% from yesterday's close of $72.24 per share. This is down 24.88% YTD, with a 52-week range between $63 and $139. This is following news that the company has signed a $149 million contract for it's cloud-based offerings. Here's a statement from Cerence's recent press release:

"Cerence has signed a contract with a valuation of $149 million with a large European automaker for its connected, conversational AI automotive assistant products. This contract is significant for the company both in its size and as a validation of continued OEM partnership and commitment to deeply integrated, custom-branded in-car assistant experiences."

What exactly is Cerence?

Cerence Inc. is a world leading provider of voice and AI-based automotive assistants, creating intelligent, flexible and intuitive in-car experiences for the world's leading automakers.

When it comes to the future of mobility, Cerence is leading the charge. With intuitive, powerful interaction between humans and their cars, two-wheelers, and even elevators, they are helping to create unique, moving experiences for the world. As an innovation partner to the world’s leading automakers and mobility OEMs, Cerence is helping to advance the future of connected mobility.

Why are investors interested in Cerence?

We are going to see leaps in technological advancements when it comes to transportation and AI. Is Cerence going to stake its claim as an prominent industry leader? Investors may be interested to know that Cerence's new Co-Pilot voice assistant can essentially anticipate what drivers want before they can ask, ideally skipping over the need for a "wake" word. This opens up endless features and a whole new experience for drivers of the future.

Cerence is only the beginning

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