Adamas One has acquired a minority stake in artificial intelligence (AI) company NexGenAI Solutions, intending to use its products to optimize the development of its lab-grown diamonds.
The synthetics producer purchased a 9.99% equity share as part of an all-stock transaction, it said last week. Adamas will use NexGenAI’s products to improve manufacturing output volume, create new jewelry designs, and streamline marketing.
“Artificial intelligence is cutting-edge technology that is rightly gaining significant attention and traction both in the current business macroenvironment and in the culture as a whole,” said Adamas One CEO Jay Grdina. “This investment and partnership allows us to strategically fold AI into our business, with the goal to maximize output, efficiency, creativity and value.”
In 2018, the Nevada-based Adamas One acquired lab-grown producer Scio Diamond in another all-stock transaction. The company filed for an initial public offering (IPO) last year in an effort to raise money.
Image: A lab-grown diamond seed. (LakeDiamond)
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