SMALL CAP MOVERS: Engage XR floats AI school trips to the moon
SMALL CAP MOVERS: Engage XR floats AI school trips to the moon
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Engage XR Holdings just had to name-drop Meta Platforms with news of a partnership tied to its cutting-edge education technology to reap the rewards this week. Shares skyrocketed an eye-watering 157 per cent, driven by Wednesday’s unveiling of its artificial intelligence-powered and virtual reality-encompassing package.
Aimed at those aged up to 18, Engage flagged scope for students to take a virtual trip on Apollo 11, dive to the Titanic wreckage or chat to 22 AI-powered historical characters. Engage said the offering came in the midst of a ‘huge expansion’ in technology adoption across the education sector, set to accelerate further with the release of Meta’s $299 Quest 3S headset, before prices for such equipment fell further in future.
Following the release, Meta was set to roll out its own education management service later in the year in partnership with Engage and peer OptimaED. ‘Software pricing [...] is a key consideration for educators exploring the immersive learning space,’ Engage chief executive David Whelan commented.
‘We are excited about collaborating with Meta and OptimaED, and looking ahead, we anticipate significant growth opportunities in the global education sector as the price of headsets continues to fall.’. Engage’s jump placed it top of the AIM risers and as a bright spot in a week that saw the wider market barely budge.
Engage's AI-powered and virtual reality-encompassing package shows scope for students to take a virtual trip on Apollo 11. Come Friday, the AIM all-share was up just 0.03 per cent, marking yet another week of underperformance against its larger FTSE 100 counterpart.
