Shares in GenIP PLC (LSE:GNIP) rose as much as 11% in early trade after the artificial intelligence company announced its first contract in Chile, marking a new phase of international expansion.
The order, placed by a leading local research institution, includes 30 Invention Evaluator assessments, a service that helps clients evaluate the commercial potential of research innovations.
The deal lifts the total value of GenIP’s Invention Evaluator orders since its October 2024 initial public offering to more than $850,000.
Chief executive Melissa Cruz said the contract “strengthens GenIP's growing footprint in Latin America and underscores global demand” for its GenAI services.
GenIP highlighted that most clients pay for assessments in advance, providing reliable operating cash flow and revenue visibility.
The stock settled to trade at 28.16p, up 1.26p.