Core Viewpoint - Xiao-I Corporation projects a 25% increase in revenue for the fiscal year ending December 31, 2024, expecting approximately $73 million compared to $59 million in 2023, driven by successful AI technology deployment and a strategic focus on profitability [1][2]. Financial Performance - The company anticipates a revenue increase from $59 million in fiscal year 2023 to approximately $73 million in fiscal year 2024, representing a 25% growth [1]. - A reduction in research and development (R&D) expenses is expected, contributing to improved profit margins and a continued reduction in losses [1]. Strategic Focus - The CEO emphasized the maturity and optimization of AI systems, allowing for decreased R&D spending, which aligns with the company's strategy to enhance financial performance [1]. - The company aims to leverage refined AI technologies to drive sustainable growth and create long-term value for shareholders [2]. Company Overview - Xiao-I Corporation is a leading cognitive intelligence enterprise in China, offering a range of AI solutions including natural language processing, voice and image recognition, and machine learning [3]. - Since its inception in 2001, the company has developed a diverse portfolio of cognitive intelligence technologies applicable to various business cases, promoting industrial digitization and intelligent transformation [3].

Core Viewpoint - The Portnoy Law Firm has initiated an investigation into Xiao-I Corporation for possible securities fraud following a significant drop in the price of its American depositary shares (ADSs) since its IPO [1][2]. Group 1: Company Overview - Xiao-I Corporation launched its initial public offering (IPO) on March 8, 2023, selling 5.7 million ADSs at a price of $6.80 each [2]. - The price of Xiao-I's ADSs has significantly decreased since the IPO, resulting in financial losses for investors [2]. Group 2: Legal Actions - The Portnoy Law Firm is considering filing a class action lawsuit on behalf of investors who have suffered losses due to the alleged corporate wrongdoing [1]. - Investors are encouraged to contact the law firm for a complimentary case evaluation and to discuss their legal rights regarding potential claims [1].

SHANGHAI, Aug. 21, 2024 /PRNewswire/ -- Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ: AIXI), a leading artificial intelligence company, today announces that the previously announced change of the ratio of its American Depositary Shares (the "ADSs") to its ordinary shares (the "ADS Ratio"), par value US$0.00005 per share, from the current ADS Ratio of one ADS to one-third of an ordinary share to a new ADS Ratio of one ADS to 3 ordinary shares will be effective on August 23, 2024 (U.S. Eastern Time) ...

Core Viewpoint - Xiao-I Corporation has successfully launched its Hearview Smart Glasses in the U.S., aimed at assisting individuals with hearing impairments, marking a significant technological advancement in this field [1][2]. Company Overview - Xiao-I Corporation is a leading cognitive intelligence enterprise in China, established in 2001, specializing in artificial intelligence solutions including natural language processing, voice and image recognition, machine learning, and affective computing [3]. - The company has developed a diverse portfolio of cognitive intelligence technologies that are applicable across various business cases, promoting industrial digitization and intelligent transformation [3]. Product Launch Details - The Hearview Smart Glasses combine advanced auditory technology with intuitive design, enhancing the user experience for those with hearing challenges [1]. - The launch event was streamed live on YouTube on August 8, 2024, and included a review by a Key Opinion Leader in the tech community, highlighting the glasses' features and benefits [2].

NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Xiao-I Corporation (“Xiao-I” or “the Company”) (NASDAQ: AIXI). Investors who purchased Xiao-I securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/AIXI. Investigation Details On or around March 8, 2023, Xiao-I conducted its initial public offering (“IPO”), selling 5.7 mill ...

NEW YORK, Aug. 1, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Xiao-I Corporation ("Xiao-I" or the "Company") (NASDAQ: AIXI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.The investigation concerns whether Xiao-I and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.[Click here for information about joining the class action]On or around March 8, 2023, ...

SHANGHAI, June 28, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI), a leading AI company, is proud to announce a partnership with a leading telecommunications provider to deploy its advanced AI Chatbot solution in Q2. This strategic collaboration aims to transform the provider's customer service operations by enhancing service efficiency, reducing operational costs, and providing 24/7 personalized support. Xiao-I Corporation's AI Chatbot is designed to address significant challenges in customer servi ...

SHANGHAI, June 25, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading AI company, announced today that the Company signed a partnership agreement with a major government agency (the "Agency") in Hong Kong to implement advanced AI Chatbot solution (the "Partnership"). This strategic collaboration aims to transform the agency's customer service operations, addressing key challenges such as complex policy explanations, multilingual communication needs, high service de ...

NEW YORK, June 23, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Xiao-I Corporation (NASDAQ: AIXI) resulting from allegations that Xiao-I Corporation may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Xiao-I Corporation securities you may be entitled to compensation without payment of any out of pocket fees or costs through a conting ...

SHANGHAI, June 20, 2024 /PRNewswire/ -- Xiao-I Corporation (NASDAQ: AIXI) ("Xiao-I" or the "Company"), a leading AI company, announced today that it signed a major contract with a prominent international insurance provider [based in China] to utilize Xiao-I's advanced AI solutions to enhance operational efficiencies within the insurance sector.The insurance industry faces numerous challenges impacting customer service and operational efficiency, such as managing multilingual support, handling high volumes o ...