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Benzinga
Benzinga
Business
Akanksha Bakshi

US Steel Invests In Carnegie Foundry To Accelerate Automation Capabilities

NYSE United States Steel Corp
  • United States Steel Corp (NYSE:X) disclosed a strategic investment in robotics and AI studio Carnegie Foundry. Deal terms were not disclosed.
  • The parties will work to accelerate and scale industrial automation driven by advanced robotics and AI.
  • As part of the strategic relationship, U. S. Steel will join Oshkosh Corp (NYSE:OSK), both anchor investors, on the Carnegie Foundry board of directors.
  • Pittsburgh-based Carnegie Foundry will use this investment to accelerate venture opportunities - commercializing and scaling its industrial automation portfolio of robotics and AI technologies.
  • Price Action: X shares traded higher by 0.97% at $19.16 and OSK higher by 3.19% at $120.50 on the last check Wednesday.
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