Innodata shares were trading higher post-market Thursday after the company said it landed the third of three deals it called “potentially transformative.”
The data engineering company’s stock rose 17% to $12.50 at 6:41 p.m. ET. The shares closed the day’s regular session up 2.68% at $10.71.
Innodata plans to sign the deal on Friday and it expects the customer, whose name wasn’t disclosed, to authorize $3.5 million in spending to start. The customer, has also said it plans to supplement the authorization in the future, Innodata said.
After closing the new deal, Innodata will support four of Big Five global tech companies for generative AI development, it said.