Digital Currency X Technology Inc.
(NASDAQ:DCX) jumped 31.48% to $1.42 in after-hours trading on Wednesday following the announcement of a non-binding memorandum of understanding with Singapore-based global enterprise AI company Whales AI Limited. $20 Million Bet on AI Education Platform According to Digital Currency X, the MOU contemplates an aggregate investment of $20 million by DCX to support continued development of Whales AI's platform, including training and optimization of its underlying AI large language model and its localization for the education market in the U.S. and Canada.
In exchange, Whales AI intends to grant DCX the exclusive right to market, sell and commercially operate the platform throughout the territory.
Under the deal, DCX would lead sales, marketing and business development for the platform in the Territory, while Whales AI would remain responsible for platform development, large-model training and technical maintenance.
DCX and Whales AI would share resulting platform revenue on a 60/40 basis respectively.
