Genius Group shares were up 28% to $1.13 after the company signed a joint venture partnership with Groove Digital Inc. and Groove AI to deliver artificial-intelligence powered tools to GeniusU partners and faculty.
The stock closed Tuesday’s session down 8%, and is down 18% in the past 12 months.
Groove Digital is a software-as-a-service platform for digital commerce, used by more than 400,000 online educators, retailers and service providers. Groove AI is an AI driven content builder launched by Groove Digital’s founders in 2023 to speed up the build time and optimization for digital entrepreneurs to launch and scale their businesses globally.
The joint venture agreement is for launching a new AI driven SAAS platform, Genius Groove. The joint venture company, under 50/50 ownership, will integrate Groove Digital’s tools and Groove AI’s large language model engine with GeniusU’s Partner Portal.
The company expects Genius Groove will be market ready and delivering its AI Educator SAAS solution to GeniusU’s 12,500 partners and faculty by the first quarter of 2024.