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shares fell 6% to $6.32 in afternoon trading on October 12, despite the company announcing a new defense artificial intelligence venture with Palantir Technologies. The stock is now down 35% year to date.
The announcement came alongside the launch of Regna AI, a joint effort between Ondas and Palantir to develop sovereign AI systems for national defense operations.
These systems are designed to run on government-controlled infrastructure and connect software to Ondas's drones and autonomous systems.
Ondas did not disclose any financial terms, revenue expectations, or specific contract values for the venture. Competitors in the uncrewed and counter-drone markets also saw declines.
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