SES AI Corporation announced its new "All-in on AI" strategy alongside Q2 2024 results, introducing three AI solutions for batteries targeting electric transportation. The company has reached cell testing agreements for UAM and drone applications, demonstrating accelerating demand in these sectors.The company has revised its full-year 2024 cash usage guidance downward to $100-120 million from the previous $110-130 million range. With current cash management strategies, SES AI maintains strong liquidity extending into 2027. The company's AI initiatives focus on Manufacturing, Safety, and Science solutions, which are expected to create earlier revenue streams and accelerate Li-Metal commercialization.CEO Dr. Qichao Hu emphasized that the AI-driven paradigm shift could expedite commercialization and profitability for EV, UAM, and drone applications, as well as next-generation Li-ion implementations. The company's strategic pivot reflects its commitment to leveraging AI across its entire business spectrum, from R&D to battery health monitoring.

SES AI Corporation announced its new "All-in on AI" strategy alongside Q2 2024 results, introducing three AI solutions for batteries targeting electric transportation. The company has reached cell testing agreements for UAM and drone applications, demonstrating accelerating demand in these sectors.The company has revised its full-year 2024 cash usage guidance downward to $100-120 million from the previous $110-130 million range. With current cash management strategies, SES AI maintains strong liquidity extending into 2027. The company's AI initiatives focus on Manufacturing, Safety, and Science solutions, which are expected to create earlier revenue streams and accelerate Li-Metal commercialization.CEO Dr. Qichao Hu emphasized that the AI-driven paradigm shift could expedite commercialization and profitability for EV, UAM, and drone applications, as well as next-generation Li-ion implementations. The company's strategic pivot reflects its commitment to leveraging AI across its entire business spectrum, from R&D to battery health monitoring.