10th Jul 2025 15:46
(Alliance News) - capAI PLC shares rose on Thursday, after it announced an "operational milestone" for capMedia, with Californian operations expected to commence in due course.
Shares in capAI surged 28% higher to 0.47 pence on Thursday in London.
The Surrey, England-based company, which is focused on artificial intelligence systems for media and medicine, announced the incorporation of wholly-owned US subsidiary capMedia in Delaware.
capAI called the move "an operational milestone in [capMedia's] strategic development", and said it selected Delaware due to the state's established legal framework for corporate governance and investment.
The firm said it now intends to apply for an operational licence for capMedia Inc to do business in California, which "[aligns] with [capAI's] objective of accessing the innovation and talent ecosystem of Silicon Valley" after which the business will serve as the principal US vehicle for media initiatives under the capMedia division.
capAI said the incorporation lays the foundation for its proposed deployment of the Author42 "generative AI publishing" platform, and other future commercialisation efforts.
"The company shall seek further operational licenses for capAI Inc to do business in additional US states as necessary from time to time," capAI added.
In its "upcoming newsflow" capAI expects to report entry into a definitive letter of authority for Author42, subject to obtaining regulatory clearance for a licence and option agreement, and capMedia beginning its California operations.
By Emma Curzon, Alliance News reporter
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