Shares in microcap investment fund capAI soared over 80% in early trading after the company announced the appointment of Professor Ronjon Nag, a Silicon Valley-based AI expert and investor, as an executive director.
With a four-decade track record in artificial intelligence and deep tech, Nag leads R42, an investment fund specializing in AI and longevity. He also maintains strong affiliations with Stanford, MIT, and Cambridge, reinforcing his influence in the field.
His appointment is expected to provide capAI with valuable access to a network of investors and cutting-edge tech companies.
Nag’s compensation will be entirely performance-based, meaning he will only benefit if capAI’s share price sees significant growth.
Chairman Richard Edwards described the appointment as a “major coup”, emphasizing that the company will remain “flexible, agile, and unconstrained” in capitalizing on AI opportunities.
Alongside the announcement, capAI revealed a £275,000 fundraising through a share placing, with Nag personally investing £50,000.
Ronjon Nag, comments “I am so pleased to join the Board of capAI, with the aim of developing a public entity to access next level advancements in AI and deep science developed by myself and others.”
Following the news, capAI shares rose 81.33% to 0.068p.
Comment: It would appear that the share price rise in the company of late has anticipated the arrival of a “rock star” to the board. Given that even after the announcement the market cap of the company is still only £800k, the silicon valley hero could deliver further decent upside just by being there.
