Cision PR Newswire
FatBrain AI ($LZGI) Announces New Strategic Direction to Take Full Advantage of the Artificial Intelligence (AI) Revolution
News provided byLZG International, Inc.
Sep 19, 2023, 9:42 AM ET
FatBrain creates the first publicly traded AI Venture Operating Company
NEW YORK, Sept. 19, 2023 /PRNewswire/ -- FatBrain AI (LZG International, Inc., OTCQB: LZGI) (the "Company," or "we"), the leader in powerful and easy-to-use AI solutions for the enterprise stars of tomorrow, to become the first publicly traded AI venture operating company.
FatBrain announces its new strategic direction after internal review with its key strategic advisors, executive board chair and CEO. AI is projected to grow to $15.7 Trillion dollars of additional GDP by 2030 reported by PWC analysis. According to Wedbush's Dan Ives interviews following research report, "AI is the biggest transformational tech trend we've seen in 30 years… unleashing a trillion in IT spending.
FatBrain's unique AI Solutions capabilities married to the operating team's unique success in investing and finding the great growth companies of tomorrow enable the company to better take advantage of what it is seeing and delivering in the AI marketplace.
"AI is the fastest and most transformational trend we've since 1995," said Michael Moe, Executive Chair of FatBrain AI and founder and CEO of GSV, an early investor in Facebook, Twitter, Palantir, Spotify, Coursera, and Snap. "We are repositioning FatBrain in order to better capitalize on our unique distinctive competencies as investors and operators, helping to usher in a new period of growth and success for our stakeholders."
"FatBrain AI is well positioned to ride the trillion-dollar AI tidal wave," said Peter B. Ritz, co-founder and CEO of FatBrain AI. "With six acquisitions and triple-digit Q/Q growth over the last year, we can accelerate faster to keep momentum with the unprecedented market opportunity."
About FatBrain AI (LZG International, Inc., OTCQB:LZGI)
FatBrain AI is a venture operating company that invests, incubates, and delivers powerful AI solutions to empower the enterprise stars of tomorrow. FatBrain's AI 2.0 technologies and advanced data services transform continuous learning, narrative reasoning, large language models, and cloud and blockchain technologies into auditable, explainable and easy to integrate AI solutions. FatBrain's peer intelligence, hierarchical AI, and small private data model subscriptions allow all companies to deploy its advanced AI solutions quickly, easily, and securely behind their firewalls or via cloud. FatBrain's global delivery includes 600+ team across design, development centers in the US, UK, India, and Kazakh Republic.
For more information, please visit: https://www.fatbrain.ai
Forward Looking Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed with the Securities and Exchange Commission on September 13, 2022. Forward-looking statements include statements regarding our expectations, beliefs, intentions, or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. All forecasts provided by management in this release are based on information available at this time and management expects that internal projections and expectations may change over time. In addition, the forecasts are based entirely on management's best estimate of our future financial performance given our current contracts, current backlog of opportunities and conversations with new and existing customers about our products and services. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
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SOURCE LZG International, Inc.
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