Kodiak AI raises 100M at a steep discount and stock plunges 37% after earnings

Investors got a bargain price as the stock sank

Kodiak AI announced a $100 million fundraising round at a steep discount, triggering a sharp selloff that sent its shares down 37% after earnings. The update also included other notable developments, such as a new commercial contract and a pilot program in Canada, alongside a collaborative effort. The market reaction suggests investors questioned the pricing and runway implications.