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United States Steel Corporation Announces Strategic Investment in Carnegie Foundry to Accelerate Advanced Robotics and Autonomy Capabilities
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
United States Steel (NYSE:X) and Carnegie Foundry announced a strategic investment partnership aimed at enhancing industrial automation through advanced robotics and AI. This collaboration seeks to innovate solutions for a robust supply chain and emphasizes U. S. Steel's commitment to its Best for All℠ strategy. Carnegie Foundry plans to use the investment to accelerate its automation technologies in various sectors, aligning closely with U. S. Steel's operational goals. Both companies will also join the Carnegie Foundry Board, reinforcing their collaboration.
Positive
Strategic investment in Carnegie Foundry enhances U. S. Steel's capabilities in industrial automation.
Collaboration aligns with U. S. Steel's Best for All℠ strategy to innovate customer solutions.
Carnegie Foundry will commercialize advanced robotics and AI technologies in various sectors.
Negative
None.
PITTSBURGH--(BUSINESS WIRE)--
United States Steel, (NYSE: X) (“U. S. Steel”) a leading steel producer and Carnegie Foundry, a leading robotics and AI studio – today jointly announced a strategic investment and partnership. The two Pittsburgh based companies will work to accelerate and scale industrial automation driven by advanced robotics and AI.
“With this investment in Carnegie Foundry we continue to progress our Best for All℠ strategy to innovate new ways to serve our customers through profitable solutions for people and the planet,” said U. S. Steel President and Chief Executive Officer David B. Burritt. “The Carnegie Foundry team are clear leaders and innovators in autonomy and this partnership keeps us at the forefront of emerging innovation in robotics and autonomous solutions for industry. These highly advanced technologies will be essential to continue fulfilling our customers’ needs for a robust and resilient supply chain.”
“We are very excited to have U. S. Steel as a key partner,” said Carnegie Foundry CEO Dr. Robert J. Szczerba. “Our goals are aligned and our innovations in automation complement U. S. Steel’s ongoing work. It’s our good fortune that we found investment, aligned mindsets and large-scale industrial specialization with the team at U. S. Steel.”
Carnegie Foundry will use this investment to accelerate venture opportunities - commercializing and scaling its industrial automation portfolio of robotics and AI technologies in advanced manufacturing, automated warehouses and supply chains, industrial robotics, integrated systems, autonomous mobility, voice analytics and more.
Carnegie Foundry, through its relationship with the world leader in autonomous robotics - the National Robotics Engineering Center (NREC) at Carnegie Mellon University - combines expertise from decades of applied R&D work in autonomy with highly strategic, corporate venture capital partners like U. S. Steel to bring multi-use technology solutions to market.
As part of this strategic relationship, U. S. Steel Corporation will join Oshkosh Corporation (NYSE: OSK), both anchor investors, on the Carnegie Foundry Board of Directors. Terms of the deal were not disclosed.
About United States Steel Corporation
Founded in 1901, United States Steel Corporation is a leading steel producer. With an unwavering focus on safety, the company’s customer-centric Best for All℠ strategy is advancing a more secure, sustainable future for U. S. Steel and its stakeholders. With a renewed emphasis on innovation, U. S. Steel serves the automotive, construction, appliance, energy, containers, and packaging industries with high value-added steel products such as U. S. Steel’s proprietary XG3™ advanced high-strength steel. The company also maintains competitively advantaged iron ore production and has an annual raw steelmaking capability of 26.2 million net tons. U. S. Steel is headquartered in Pittsburgh, Pennsylvania, with world-class operations across the United States and in Central Europe. For more information, please visit www.ussteel.com.
About Carnegie Foundry
Carnegie Foundry is a unique Robotics and AI venture studio, headquartered in Pittsburgh, PA. In partnership with the world leader in autonomous robotics and AI - the National Robotics Engineering Center (NREC) at Carnegie Mellon University – we develop, mature and commercialize cutting-edge intellectual property and advanced prototypes, already market tested and primed for new and expanded applications. For more information visit carnegiefoundry.com or contact us at info@carnegiefoundry.com.
What is the recent partnership announcement involving United States Steel and Carnegie Foundry?
United States Steel and Carnegie Foundry announced a strategic investment partnership to enhance industrial automation through advanced robotics and AI.
How will the investment from United States Steel impact Carnegie Foundry's projects?
The investment will allow Carnegie Foundry to accelerate its venture opportunities and scale its industrial automation portfolio.
What is the significance of U. S. Steel's Best for All℠ strategy in this partnership?
The Best for All℠ strategy emphasizes innovation in customer solutions, which aligns with the goals of the partnership.
Who will join the Carnegie Foundry Board of Directors as part of this strategic relationship?
United States Steel and Oshkosh Corporation will join Carnegie Foundry's Board of Directors as anchor investors.
