The AI decision intelligence company’s new DoD contract resulted in the stock surging nearing 35% in the past week.

Spending on artificial intelligence (AI) has been heating up recently, and it may not necessarily be slowing down. The Stargate project, a new joint venture announced in January, will involve multiple companies -- OpenAI,

Shares of BigBear.AI (NYSE:BBAI) are up more than 50% on the day, with volume spiking to 212.44 million, as compared to its daily average volume. All thanks to a new contract with the U.S. Department of Defense’s Chief Digital and Artificial Intelligence Office (CDAO).