FuseMachines, a company working in AI products and service development is to be listed on the American Stock Exchange. The company will soon be listed in NASDAQ after securing a joint cooperation with CSLM Acquisition Corp.
The move is expected to turn FuseMachines into a public company. Nepal-born Sameer Maskey Ph.D. founded FuseMachines in 2013. It is headquartered in the US. The company runs its operations with offices in Nepal, Dominic Republic, etc. FuseMachines will be listed on NASDAQ under its ticker symbol “FUSE”. The joint collaboration between FuseMachines and CSLM Acquisition is valued at $200 million and the listing could be completed by the end of the second quarter of 2024. Dr. Maskey says that the listing will help the company in further innovation into AI and help deliver more advanced products and solutions.
FuseMachines has remained at the front in the enterprise AI revolution for over a decade. Dr. Maskey who also is an Associate Professor at Columbia University has played a key role in propping up the company to the enriched profile of the current day.
The company helps businesses to address their challenges with products and solutions exploiting cutting-edge tech and innovation. Among its major portfolio of services remain AI Studio and AI Engines. The company runs a global AI talent pool through AI Fellowship helping to develop digital talents.
The development makes FuseMachines the first Nepali-origin company to be listed on an American Stock Exchange.
Also read: Business Oxygen Makes USD10 Million Investment in Genese Solution
FuseMachines being listed on the US stock exchange NASDAQ
Dr Maskey, the award-winning founder and Chief Executive Officer (CEO) of FuseMachines called it a “pivotal milestone” and hailed the collaboration with CSLM which will lead the way in “shaping the future of democratizing AI”. Here’s his full statement.
“Being listed on NASDAQ is a pivotal milestone for us and a historical one for any company of Nepalese origin,” said Sameer Maskey, Chief Executive Officer and Founder of Fusemachines. “Our business combination with CSLM positions us to strategically lead the way in shaping the future of democratizing AI and leaving a lasting impact across industries. The additional capital and financial flexibility from this transaction will empower improved products and fuel growth and expansion.”
Similarly, Charles Cassel, Chief Executive Officer and Chief Financial Officer of CSLM said, “We have been methodically searching to identify a long-term, co-investment opportunity for our affiliates, and we are very excited to be partnering with Fusemachines. With significant operations in Nepal, their cutting-edge development of AI engines and solutions for US and developed market enterprise clients is precisely the profile that we believe embodies the impact that investors can make and profit from in high growth opportunities available in Frontier and Emerging Markets.”
Dr. Maskey also reserved praise for the opportunity he got for quality education in the US. He stated that the attention of FuseMachines remains on quarterly filings, growth, compliance, and margins, but it will also dedicate itself to the “fundamental mission of making AI accessible to all”.
The news of FuseMachines getting listed on the American Stock Exchange is quite an event and will inspire AI startups and enthusiasts in Nepal. How do you see this development? Do share your excitement in the comments below.
