Jabil (JBL) Jumps 8.9% on $500M AI Expansion

Jabil Inc. (NYSE:JBL) is one of the 10 Stocks Boast Whopping Gains Amid Market Downturn.

Jabil Inc. rallied by 8.89 percent on Tuesday to end at $196.89 apiece following news that it would invest $500 million over the next several years for the expansion of cloud and AI data center infrastructure in the US.

The commitment will enable new large-scale manufacturing capabilities, capital investments, and workforce development.

“This initiative is a key element of our long-term strategy to diversify our commercial portfolio and strengthen Jabil’s presence in the US,” said Jabil Inc. (NYSE:JBL) CEO Mike Dastoor.

“While the geopolitical landscape remains dynamic, our position as a US-based company with a significant domestic footprint enables us to help the world’s leading brands navigate challenges with agility and resilience,” he added.

Based in St. Petersburg, Florida, Jabil has 30 sites across the United States including automation, robotics, and process optimization. These facilities support demand for production at scale across industries.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.