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HOUSTON - Freight Technologies, Inc. (Nasdaq:FRGT) has entered into a multi-year service agreement with Fetch Compute, Inc. to access their ASI-1 large language models platform and developer tool suite, the company announced Thursday. The micro-cap logistics technology firm, currently trading at $0.95 with a market capitalization of $12.3 million, has seen a significant 19.28% stock price jump over the past week.
The agreement aims to support Fr8Tech’s expansion of AI-driven automation across U.S.-Mexico cross-border and domestic over-the-road freight operations. The company plans to leverage the ASI-1 models to develop logistics-specialized AI systems, including autonomous task agents and real-time voice-enabled AI assistants. According to InvestingPro data, this move comes as the company is quickly burning through cash, with an overall financial health score rated as WEAK.
These AI systems will be designed to assist shippers, carriers, and brokers with various operational workflows. The integration of Fetch AI’s technology into Fr8Tech’s AI agent ecosystem is expected to support multi-agent collaboration for freight procurement, scheduling, exception handling, and real-time communication.
Fr8Tech offers several technology solutions for the logistics industry, including the Fr8App platform for cross-border shipping, Fr8Now for less-than-truckload shipping, Fr8Fleet for enterprise clients in Mexico, Waavely for ocean freight management, and Fleet Rocket, a transportation management system.
The announcement was made in a company press release, which did not disclose financial terms of the agreement.
In other recent news, Freight Technologies, Inc. has made significant advancements in its logistics and management systems. The company has integrated 23 additional GPS systems into its Fleet Rocket transportation management system over the past year. This expansion, achieved through the Fr8Radar module, enhances real-time geolocation data collection from trucks and trailers in the U.S. and Mexico. Additionally, Freight Technologies has launched an AI-powered automation module for its Fr8app and Fleet Rocket platforms, named Carrier Auto Invoicing, to streamline freight billing processes. This feature uses advanced language model technology to automate invoice verification and ensure compliance with Mexico’s electronic invoicing regulations. Furthermore, the company has strengthened its partnership with Amazon Mexico by integrating its Fr8App platform with Amazon’s tracking system. This integration provides Amazon Mexico with enhanced real-time tracking capabilities, including precise unit location and continuous movement data. These developments highlight Freight Technologies’ ongoing efforts to enhance operational efficiency and support logistics operations.
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