Flora Cannabis Secures $401M Agreement at a $3B Valuation for 0G
Flora Growth's Strategic Shift: Flora Growth, a cannabis company, is transforming into a blockchain and AI player with a $401 million treasury initiative to support Zero Gravity (0G), a decentralized AI infrastructure project, while planning to rebrand as ZeroStack.
Investor Interest and Market Reaction: Following the announcement, Flora's shares surged 69% in after-hours trading, indicating strong investor interest in the crypto-AI narrative, despite the company's departure from its cannabis roots.
0G's AI Infrastructure Goals: Zero Gravity Labs aims to revolutionize distributed AI training, claiming significant efficiency gains over traditional models, and plans to airdrop tokens to early supporters, with major exchange listings anticipated.
Broader Industry Implications: The Flora-0G deal reflects a trend of companies in struggling sectors rebranding into crypto and AI to attract investment, with potential risks and rewards for investors as the project develops.
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