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Cyngn Inc. - CYN STOCK NEWS

Welcome to our dedicated page for Cyngn news (Ticker: CYN), a resource for investors and traders seeking the latest updates and insights on Cyngn stock.

Cyngn Inc. (Nasdaq: CYN) is a leading developer of autonomous vehicle (AV) technology, specializing in industrial applications. Based in Silicon Valley, Cyngn focuses on creating AV solutions that enable significant productivity and efficiency gains for industrial organizations. The company’s flagship product is the Enterprise Autonomy Suite, which includes the DriveMod autonomous driving solution, Cyngn Insight for fleet management, and Cyngn Evolve for leveraging AI data.

DriveMod is a highly adaptable system that can be retrofitted onto a variety of vehicle types, making it a versatile choice for Original Equipment Manufacturers (OEMs) and numerous industrial environments. The system aims to tackle critical challenges such as labor shortages and costly safety incidents, particularly in sectors like material handling, manufacturing, and logistics.

Cyngn's recent achievements include a collaboration with the globally recognized brand, John Deere, and partnerships with industry leaders such as Motrec and RobotLAB. The company has also seen significant progress in its sales pipeline, quadrupling its opportunities year-over-year and reducing technical validation times markedly.

Financially, Cyngn recently raised $5 million through a public offering to support its ongoing projects and growth. The company's financial health is reinforced by a solid balance sheet, showing $4.8 million in cash and short-term investments as of March 31, 2024, with plans to enhance its capital position further.

Cyngn continues to innovate in the AV space, recently announcing its 20th patent and strategic collaboration with Nvidia to remain at the forefront of AI advancements. The company is dedicated to creating shareholder value and remains poised to capture an estimated market opportunity of over $268 billion in the industrial vehicle sector.

News

Cyngn Announces Date for 2023 Fourth Quarter and Year-End Financial Results

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Cyngn, Inc. (Nasdaq: CYN) is set to release its 2023 fourth quarter and year-end financial results on March 6, 2024, without an earnings call.
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Customer Renews Contract as Cyngn's Autonomous Vehicles Yield 4x Efficiency Gain

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Cyngn Inc. (CYN) announces successful customer deployment results with U.S. Continental (USC), a leading private label care company serving renowned brands like Michael Kors and Monster Energy. USC, known for its commercial packaging and care products, partners with Cyngn to enhance operational efficiency with self-driving industrial vehicles and AI technology.
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Cyngn Granted Extension for Continued Listing on Nasdaq

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Cyngn Inc. (Nasdaq: CYN) has secured a 180-day extension from Nasdaq to maintain its listing on the Nasdaq Capital Market, with a deadline of August 19, 2024, to meet the $1 minimum bid price per share requirement. The Company's Chairman and CEO, Lior Tal, expressed gratitude to Nasdaq and reaffirmed the company's dedication to rectifying the compliance issue while focusing on enhancing shareholder value.
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Cyngn to Present at the Singular Research's Emerging Growth & Value Alpha Leaders Webinar

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Cyngn Inc. (Nasdaq: CYN) will present at Singular Research's Emerging Growth & Value Alpha Leaders Webinar on February 22, 2024. Bill Ong, the Head of Investor Relations, Planning & Strategy, will provide a company overview. The virtual presentation will be available live by registering with Singular Research.
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Cyngn Releases Hands-Off Automatic Unhitching Capabilities for Industrial Autonomous Vehicles

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Cyngn Inc. (Nasdaq: CYN) has launched Auto-unhitch, a hands-off solution for industrial autonomous vehicles to drop off cargo, enhancing operational efficiency and addressing labor shortages. The feature seamlessly integrates with existing workflows and includes safety features and manual mode. Cyngn's technology offers a customizable end-to-end autonomous industrial vehicle solution.
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Cyngn Granted 19th U.S. Patent for its AI-Powered Autonomous Vehicle Technologies

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Cyngn Inc. has been granted 16 patents in 2023, bringing the total US patents granted to 19. The new patent, US-11,851,074-B2, provides expanded safety features for autonomous vehicle driving operations. Cyngn aims to provide advanced automation via its DriveMod autonomous vehicle solutions. The company's patent family focuses on modularity and flexibility of autonomous vehicle systems with multiple sensor modalities and configurations.
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Cyngn's Next-Gen DriveMod Kit Will Harness Nvidia AI Computers

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Cyngn Inc. (Nasdaq: CYN) announced a strategic shift to Nvidia AI computers for its fleet of DriveMod autonomous industrial vehicles. The transition from Intel microprocessors aims to enhance efficiency, reduce production costs, and align with the company's vision for the future of robotic autonomous platforms.
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Cyngn Increases Commercialization of AI-Powered Autonomous Vehicle Solutions in 2023

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Cyngn Inc. (Nasdaq: CYN) has achieved significant milestones and key achievements in 2023, including valuable deployments, paid projects with leading global customers, and key partnerships. The company has secured a paid pre-order agreement from Arauco for 100 DriveMod Forklifts, potentially representing up to $5 million per year in recurring revenue. Cyngn has also expanded its partnerships with two leading OEMs to develop autonomous DriveMod Forklifts and Tuggers. The company has secured 19 U.S. patents, released Enterprise Autonomy Suite 9.0, and added autounhitch capabilities to its industrial autonomous vehicles. CEO Lior Tal highlighted the increasing commercialization of the company's AI-powered technology and the 5.7x increase in year-over-year revenue. Cyngn is positioning itself for a transformational 2024.
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Cyngn to Present at the Sequire Investor Summit in Puerto Rico

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Cyngn Inc. (Nasdaq: CYN) will present at the Sequire Investor Summit 2024 event, with CFO Don Alvarez providing an overview of the company and updates on its latest commercial successes. The event is scheduled for January 24, 2024, at the Condada Vanderbilt Hotel in San Juan, Puerto Rico.
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Cyngn Secures its 18th U.S. Patent in Adaptive Traffic Rule-Based Decision Making for Autonomous Driving

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Cyngn Inc. (Nasdaq: CYN) has been granted eight additional patents since August 2023, bringing the total U.S. patents granted to 18. The new patent, US-11,837,090-B2, protects Cyngn's novel adaptive traffic rule-based decision making for autonomous driving. The company's Chairman and CEO, Lior Tal, emphasized the significance of these patents in fortifying their position in the industry and ensuring the exclusivity of their innovative ideas.
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FAQ

What is the current stock price of Cyngn (CYN)?

The current stock price of Cyngn (CYN) is $6.53 as of November 21, 2024.

What is the market cap of Cyngn (CYN)?

The market cap of Cyngn (CYN) is approximately 13.4M.

What does Cyngn Inc. specialize in?

Cyngn Inc. specializes in autonomous vehicle technology for industrial applications, aiming to enhance productivity and efficiency for industrial organizations.

What is DriveMod?

DriveMod is Cyngn's autonomous driving solution that can be retrofitted onto various industrial vehicles, providing flexible and scalable automation.

Who are Cyngn's major partners?

Cyngn has partnered with industry leaders such as John Deere, Motrec, and RobotLAB to advance its autonomous vehicle solutions.

What recent financial milestones has Cyngn achieved?

Cyngn raised $5 million through a public offering and reported $4.8 million in cash and short-term investments as of March 31, 2024.

What are the key components of Cyngn's Enterprise Autonomy Suite?

The suite includes DriveMod for autonomous driving, Cyngn Insight for fleet management and analytics, and Cyngn Evolve for AI and simulation tools.

What market opportunity does Cyngn aim to capture?

Cyngn is targeting the industrial vehicle sector, with an estimated market opportunity of over $268 billion globally.

How is Cyngn addressing labor shortages and safety issues?

Cyngn's autonomous vehicle solutions help reduce the need for manual labor and enhance safety by automating material handling and other industrial processes.

What technological advancements has Cyngn recently made?

Cyngn has secured its 20th patent and collaborates with Nvidia to advance its AI capabilities.

What is Cyngn's financial outlook?

Cyngn is focused on maintaining a strong financial position, raising capital, and generating revenue through its expanding sales pipeline.

How can investors learn more about Cyngn?

Investors can visit Cyngn's official website or contact their investor relations department for more information.

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Cyngn Inc.

Nasdaq:CYN

CYN Rankings

#5444 Ranked by Market Cap
N/A Ranked by Dividends

CYN Stock Data

13.43M
2.02M
0.46%
12.68%
5.93%
Software - Application
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