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Pace Digitek shares jump 13% after subsidiary bags Rs 488 crore BESS order

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Pace Digitek shares jump 13% after subsidiary bags Rs 488 crore BESS order
Pace Digitek shares rallied as much as 13.2% to Rs 175.37 on the NSE during Tuesday’s trading session after the company announced that its material subsidiary, Lineage Power Private Limited (LPPL), secured a Rs 488.46 crore order from NTPC GE Power Services Private Limited (NGSL) for a Battery Energy Storage System (BESS) project at Barh Super Thermal Power Project (STPP), NTPC Stages I and II.

According to the company’s regulatory filing, the order covers the supply, testing, supervision of erection and commissioning of BESS containers, along with Battery Management Systems (BMS) and Energy Management Systems (EMS). The contract also includes five years of annual maintenance services and a seven-year extended warranty for the battery containers.

The project is scheduled to be completed by December 31, 2026.

The order comes as Pace Digitek continues to expand its presence across the battery energy storage system value chain, with LPPL being developed as a product-led BESS business spanning manufacturing, product supply, system integration and lifecycle support.

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Pace Digitek said it operationalised 2.5 GWh of BESS manufacturing capacity in 2025, which has since been expanded to 5 GWh. The company plans to scale this further to 10 GWh by Q3 FY2027. So far, it has delivered BESS containers representing more than 1.5 GWh of capacity.


The company is also exploring opportunities in the commercial and industrial (C&I) segment, alongside its existing utility-scale BESS business, as demand from power-intensive users and commercial customers develops.
Commenting on the development, Venugopalrao Maddisetty, Chairman & Managing Director, Pace Digitek Limited, said: “This order is an important step in strengthening LPPL as a product-led BESS business. It brings together product supply, commissioning and long-term lifecycle support, enabling us to deepen our participation across the BESS value chain and strengthen our engagement with customers beyond manufacturing. As we scale our manufacturing capacity and strengthen localisation, integration and service capabilities, our focus is to build a broader Energy platform capable of serving utility-scale requirements as well as emerging C&I applications. We will continue to invest in the capabilities required to support customers across the lifecycle of energy-storage systems.”

Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here

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I product studio: &above founder Jordan Richards

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I product studio: &above founder Jordan Richards

Jordan Richards joined Google as an apprentice at 18 and became a design lead before founding &above, a London AI product design and build studio whose clients include Google, Tesco and Revolut. The studio says the Gemini Sales Sidekick agent it built for Google Cloud has 5,000 monthly active users and saves sellers 64 per cent of the time the work took manually. Based in Borough, &above says it is a certified Anthropic and Google Cloud partner. He tells Business Matters why having AI is only the starting point and why there are no failures, only learnings.

What do you currently do at &above?

I am the founder and CEO of &above, an AI product design and build studio.

We help businesses take AI from experimentation into something that actually works in the real world. That might mean designing and building an AI workflow, developing an AI-powered product, or helping a business work out where AI can genuinely create value.

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My role is a combination of building the business, working with clients and helping shape what we build. I am very close to the creative and product side of the work.

I started my career at Google as an apprentice at 18 and went on to become a design lead. That experience had a huge influence on how I think about technology. Working with a company operating at that scale taught me a lot about craft, systems and the importance of solving the right problem.

Today, I am interested in applying those lessons to a very different technology moment. AI has created an enormous amount of opportunity, but also an enormous amount of experimentation. Businesses have access to incredibly powerful models, but having the technology is only the starting point. The interesting question is what you build around it and how it changes the way a business actually operates.

That is where I think &above has a role to play.

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What was the inspiration behind your business?

I have always been a builder, and creativity and entrepreneurship have always been intertwined for me. My time at Google showed me what was possible when technology, creativity and really talented people come together. But it also made me realise that there was an opportunity to work differently.

When I started my own businesses, I wanted to create environments where people could move quickly, experiment and build things without having to navigate huge amounts of bureaucracy. That thinking eventually led to &above.

The arrival of AI made the opportunity even more interesting. We suddenly had technology that could fundamentally change how products and businesses are built, but there was a big gap between having access to an AI model and actually putting it to work. I did not want to build another business that simply talked about AI; I wanted us to be the people who actually build with it.

For me that is still the exciting part: taking something that feels quite abstract and turning it into something useful.

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Who do you admire?

Someone I admire a lot is Toto Wolff, partly because of my passion for motorsport but mostly because of what he has built at Mercedes. What interests me is not just winning; it is the ability to build a high-performing team and create an environment where people continually push themselves to improve. I admire that relentless pursuit of excellence. Even when you are not leading, you do not stop pushing. You look at what is not working, learn from it and keep moving forward.

There are a lot of parallels between elite sport and entrepreneurship. At the highest level, performance is not just about talent or working harder. It is about building the right team, being disciplined, looking after your mind and body, recovering properly and being able to perform consistently over a long period of time.

Entrepreneurship can be relentless, and you cannot expect yourself or your team to perform at your best indefinitely without investing in the people behind the performance.

For me, high performance is not about constantly being at 100 per cent. It is about creating the conditions that allow you to reach 100 per cent when it matters, and having the resilience to keep going when things do not go your way.

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Looking back, is there anything you would have done differently?

There are obviously things I would change, but I try not to think about them as failures. One of the phrases I have always lived by is: “There are no failures, only learnings.” The hardest periods have often taught me the most. What has changed as we have grown is how deliberately we capture those learnings.

We now run what we call “washups” when something has not gone as well as we wanted it to. We take the time to understand what happened, where we could have turned it around, what we missed and what we can do differently next time.

That is much more useful than looking at an outcome and simply saying it did not work.

If anything, I would have developed that mindset earlier: being less concerned about getting everything right first time and more focused on creating a culture where we can identify what is not working, learn quickly and improve.

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I have also learned that building a business is a long game. In technology especially, it is tempting to put speed above everything else. Speed matters, but quality matters too. A decision that saves you a week today but creates a problem for the business two years from now is not necessarily a fast decision. It is just a decision that moved the problem somewhere else. I have become much more interested in building things that can last and scale, and a team that gets better every time we do something.

What defines your way of doing business?

Curiosity, creativity and a willingness to get stuck in.

A big part of my apprenticeship at Google was learning on the job. I had to get involved, ask questions, make mistakes, learn quickly and figure things out as I went.

Some of the best learning happens when you get stuck in and work things out in practice. That does not mean rushing. One of the things I have learned is that moving quickly and thinking carefully are not opposites.

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I like getting close to a problem, understanding it properly, making something, putting it in front of people and learning from what happens. That mindset is particularly important in AI because the technology is changing so quickly. You cannot build a five-year plan around assumptions that might be obsolete in six months.

I also care a lot about the people I work with. The best businesses I have been involved in have been built by people with different skills and perspectives working together. Design, technology, strategy and commercial thinking should not exist in separate silos.

And I believe strongly in ownership. If we build something for a client, I want it to become a useful part of their business. A successful project is not just something that looks good in a presentation. It is something that people actually use and that creates a meaningful outcome.

What advice would you give to someone starting out?

Start building. You do not need to have everything figured out before you begin; in fact, you probably never will. When I look back to being 13 and selling phone case designs, I had no business plan and knew nothing about entrepreneurship. I just saw something I could create and wondered if someone would pay for it. That instinct is still useful. Find something you care about, find a real problem and start experimenting.

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Learn how things work rather than depending on other people to make everything for you. You do not have to become an expert in every discipline, but understanding how technology, design, marketing and business fit together gives you a huge advantage.

Look after yourself, too. Entrepreneurship can easily become all-consuming. I have learned to think about myself like an athlete: you need periods of intense performance, but you also need training, recovery and time away from the game. You do not need to be working every hour to be ambitious.

Finally, stay curious. The people who will create the most interesting businesses in the age of AI will not necessarily be the ones who know everything today. They will be the ones who are willing to keep learning, keep experimenting and keep building. That is certainly the approach I am trying to take with &above.

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PIMCO Corporate & Income Opportunity stock hits 52-week low at $11.13

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PIMCO Corporate & Income Opportunity stock hits 52-week low at $11.13

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UK manufacturing jobs down 200,000 since 2010, TUC says

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UK manufacturing jobs down 200,000 since 2010, TUC says

The UK has 200,000 fewer manufacturing jobs than in 2010, a fall of 7 per cent, according to an analysis of OECD figures by the Trades Union Congress, which has called on Andy Burnham to restrict foreign goods to encourage the production and use of British-made products.

The TUC said that had the UK kept pace with the EU average, it would have created an extra 276,000 manufacturing jobs over the same period. Several of the Continent’s largest economies have relied on manufacturing to generate growth and jobs.

According to the analysis, investment in manufacturing as a share of GDP in the UK stands at 1 per cent, compared with 3.5 per cent in the European Union. Manufacturing generates about 10 per cent of total UK GDP.

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The figures underline the scale of the challenge facing the prime minister’s drive to reindustrialise the economy.

Paul Nowak, general secretary of the TUC, said: “Manufacturing communities powered the UK economy for generations … now we’re at the bottom of the league table compared to our European peers.”

Nowak called on the prime minister and John Healey, the chancellor, to introduce restrictions on foreign goods to stimulate manufacturing job creation, replicating the Made in Europe scheme under consideration in Brussels.

The EU package is officially called the Industrial Accelerator Act, which the European Commission says is designed to increase demand for low-carbon, European-made technologies and products. It has been introduced at least in part to protect the Continent’s manufacturing industry from overseas competition, especially from China.

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“The prime minister has said the right things about reindustrialising Britain so far,” Nowak said, adding that “he needs to make reindustrialisation a national mission and match our EU partners by introducing a UK Industrial Accelerator Act”.

The recommendation follows Healey’s call to European finance ministers last week to let the UK join the Made in Europe scheme.

Manufacturing trade bodies have urged the chancellor to set out the detail of the prime minister’s reindustrialisation plans at the budget on 28 October.

Economists generally believe that restrictions on trade harm industries over the long term, although tariffs and other protective measures can help smaller industries survive the early stages of development.

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Verity Davidge, director of policy and public affairs at Make UK, said: “Manufacturing represents around 10 per cent of the economy, supports 2.6 million jobs and accounts for 42 per cent of UK exports … there cannot be an economic revival in this country without it.”

Make UK has previously warned that energy prices are pushing production offshore, with a survey earlier this year finding that one in four UK manufacturers had moved or were considering moving production abroad.

Separately, economists at the Institute of Economic Development have written to Burnham and Healey urging them to define their mission to deliver good “growth in every postcode” with identifiable economic metrics, so that the government can be held to account.

The letter said ministers must “establish a definition of “good growth” that goes beyond GDP and jobs, to consider equality of opportunity, quality of employment, environmental outcomes and the distribution of benefit within places, including who gains and where”.

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A government spokesman said: “Our manufacturing industries are vital to the UK’s success and economic growth and our industrial strategy places them at its very heart.

“That is why we have announced significant support for key sectors including chemicals and ceramics, while backing steel and automotive manufacturing.

“The UK also continues to attract major private investment, with companies such as Nissan and McLaren announcing hundreds of millions of pounds of investment over the past week alone.”

McLaren Automotive last week set out a £500m programme to expand its UK operations, which it said would create at least 1,000 direct and indirect jobs by 2032.

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Paul Jones
About the author

Paul Jones

Harvard alumni and former New York Times journalist. Editor of Business Matters for over 15 years, the UKs largest business magazine. I am also head of Capital Business Media’s automotive division working for clients such as Red Bull Racing, Honda, Aston Martin and Infiniti.

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Okta Stock Rides AI Security Boom Ahead Of Investor Day

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Okta Stock Rides AI Security Boom Ahead Of Investor Day

Cybersecurity firm Okta (OKTA) hosts its annual customer conference this week with an investor day set for Wednesday. Okta stock has surged over 115% in 2026 heading into the events amid investor views that artificial intelligence-based threats will increase demand for computer security products. Whether Okta updates financial guidance to include a boost from new AI products remains to be…

Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Kali Metals, JX Advanced Metals sign MoU for Southern Lachlan

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Kali Metals, JX Advanced Metals sign MoU for Southern Lachlan

Kali Metals has signed a binding memorandum of understanding (MoU) with Japan’s JX Advanced Metals concerning the Southern Lachlan Project, which spans Victoria and New South Wales, Australia.

Under the agreement, JX Advanced Metals will fund up to $498,746 (A$700,000) of exploration activities at the project during an initial phase ending 31 March 2027.

The project covers approximately 1,413km² east of Albury-Wodonga and includes Palaeozoic granitoid and sedimentary units within the Southern Lachlan Fold Belt.

The site is considered to have potential for lithium-caesium-tantalum pegmatites, as well as tin and tungsten mineralisation.

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During the initial exploration and due diligence period, Kali Metals will remain the operator and manage the exploration programme.

A joint Exploration Committee will be formed to oversee the progress of these activities.

Kali Metals is entitled to charge a management fee for its role in running the exploration works.

At the conclusion of the exploration phase, JX Advanced Metals will have an option to negotiate terms for either a farm-in or joint venture agreement, with a negotiation deadline set for 30 June 2027.

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The current arrangement enables JX Advanced Metals to conduct due diligence and assess the project’s prospects before deciding on a long-term collaborative structure.

The MoU outlines a phased approach for the companies to work together at the Southern Lachlan Project, with future steps contingent on the results of the initial exploration period and further negotiation between the parties.

Kali Metals managing director Paul Adams said: “We are very pleased to have executed this binding MoU with JX Advanced Metals over our Southern Lachlan Fold Belt tenements.

“The JX Advanced Metals’ funding will allow Kali to advance exploration across our large and prospective project area, which hosts numerous opportunities for the discovery of non-ferrous metals used in high technology industries.

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“The support from JX Advanced Metals as a potential long-term partner is an exciting opportunity for Kali and its shareholders.”

In February 2026, Kali Metals signed a binding agreement to acquire a 30% stake in both the DOM’s Hill and Pear Creek Projects in Western Australia’s Pilbara region from SQM Australia.

“Kali Metals, JX Advanced Metals sign MoU for Southern Lachlan” was originally created and published by Mining Technology, a GlobalData owned brand.

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Perth Airport upgrade goes full throttle

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Perth Airport upgrade goes full throttle

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Sir Jim Ratcliffe suspends production at key UK plants blaming high gas prices

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Sir Jim Ratcliffe in a green coat and red scarf

Billionaire Sir Jim Ratcliffe’s industrial giant Ineos is pausing production at its three plants in Hull, blaming high UK gas prices.

The firm said gas prices in the UK are twelve times higher than in the US, and eight times more expensive than the coal-based processes used by Chinese competitors.

Sir Jim said: “We are being forced to mothball some of the most efficient plants in Europe, but with gas prices now 12 times the level in the US and 8 times that of China, we just cannot compete.”

The facilities produce raw materials used to make pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosives in the UK and Europe. Gas is a key ingredient in production.

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Ineos said the move will affect up to 1,000 of its staff, of whom 245 work directly at the site.

But the BBC understands workers across the sites will be kept on while Ineos tries to buy liquefied natural gas (LNG) directly from the US at lower prices – which could take up to a year – or waits for gas prices to go down.

Ineos is asking governments in the UK and the EU — where most of its products are exported to — to put in tariff protections against Chinese products.

One plant makes acetic acid, which is used in vinegar, paint and glue. Another makes acetic anhydride, a key ingredient of aspirin, and the third makes ethyl acetate, which is used as a solvent and for decaffeinating tea and coffee.

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He said the current government’s energy policy was “economic vandalism on an industrial scale”.

The wholesale price of natural gas — used for heating homes and generating electricity — has almost doubled in the UK and Europe since July.

The disruption of supplies of oil and gas through the Strait of Hormuz following the US-Israel war in Iran has pushed up prices around the world.

Ineos says that its plants in Humberside are “among the most efficient in the world”, producing materials with half the carbon footprint of US rivals, and only one eighth the footprint of Chinese equivalents.

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Two plants are already shut and a third will stop production in the coming days, the company said.

It’s the second time in less than a week that Sir Jim, who also owns a large stake in Manchester United, has heavily criticised government policy.

He told BBC News last week that he has lost confidence in the UK, describing the country as “on the slide”, which he blamed on high taxes and high immigration.

Sir Jim, whose wealth is estimated to be around £15bn, has prompted controversy in the past with his comments on immigration. He was a supporter of Brexit but has been a tax resident in Monaco since 2020.

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The Department for Business, Innovation, Science and Trade said it would be a “concerning time for workers in Saltend and their families”.

A spokesperson said: “We’ve taken bold action to support our chemicals industry including £350 million for strategically important chemicals producers, which will be available on a co-investment basis.

“We’ve also put trade measures in place on foreign chemicals imports and are tackling high electricity costs via our Supercharger and British Industrial Competitiveness Scheme to keep our chemicals sector competitive.”

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AGEM expands portfolio with Balcatta buy

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AGEM expands portfolio with Balcatta buy

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
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Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

  • Unlimited access to WA’s most trusted business journalism
  • Data & Insights — detailed profiles of WA companies, people, projects and deals
  • MyBN — a personalised feed based on the companies, people and sectors you follow
  • Special publications and industry reports
  • Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

  • Look up detailed profiles of WA companies, including financials, directors and ownership
  • Find decision-makers and track their career movements
  • Research live and completed projects across WA industries
  • Monitor deals, appointments and market activity
  • Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

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Only subscribers have full access to all content on the Business News website.

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If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

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  • Consultants and professionals staying across sectors relevant to their clients
  • Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

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The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

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Peloton announces new Tread, Peloton IQ features

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Peloton announces new Tread, Peloton IQ features

A person walks past a Peloton store in New York, Jan. 25, 2022.

Carlo Allegri | Reuters

Peloton is betting that revamped treadmills, AI and new distribution channels can bring it back to sustained growth.

The connected fitness company on Tuesday unveiled three new treadmills and new features for its Peloton IQ artificial intelligence platform with tools for runners, walkers and hikers. Peloton aims to widen its customer base, from people looking for a more affordable, space-saving treadmill to more experienced athletes looking for personalized coaching.

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“From record marathon turnouts around the world to the rise of local run clubs, we’re rediscovering the joy of running, walking and hiking,” said CEO Peter Stern in a press release.

But the stakes remain higher than simply selling new equipment. Shares have dropped 43% since Stern stepped into the role in January 2025.

Peloton has spent the past several years cutting costs, restructuring its operations and repairing its balance sheet after the pandemic-era boom in connected fitness gave way to a sharp slowdown in demand. The company has returned to profitability and improved its cash generation, but revenue growth is a challenge as subscriptions trend lower.

Now Stern is putting more emphasis on widening the company’s potential revenue sources.

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“Expanding our treadmill portfolio and launching AI-powered software for runners will allow us to connect with a much wider audience,” Stern said.

The treadmill relaunch, Peloton said, is also addressing the company’s long-standing challenge getting consumers to buy high-cost equipment that takes up a lot of space.

The Tread Flex will start at $2,195, making it Peloton’s lowest-cost treadmill of the new hardware and its first folding model. The new treadmill can contract by nearly half its size, potentially broadening the product’s appeal among consumers with less space or lower equipment budgets

At the other end of its lineup, Peloton is keeping the $6,695 Tread+ Vision the same price. It is also increasing the price of the middle model, the Tread Vision, by $200, to $3,495.

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The higher-end products include movement-tracking cameras that provide insights on a user’s running form. The Tread+ Vision also includes Sled Mode, meant to allow users to add up to 300 pounds of resistance for strength training as hybrid races like Hyrox become more popular.

An AI-powered running coach

The wider range of prices brings questions about how Peloton will keep buyers engaged.

That is where Peloton IQ comes in.

Peloton launched the service last year as an AI-powered software system for personalized recommendations and coaching. The company is now expanding it with features specifically aimed at runners.

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The new Run Analysis feature uses live video to score running efficiency and provide personalized pace, form and heart-rate guidance, similar to feedback from an in-person coach.

The strategy moves Peloton further away from simply being a screen attached to a piece of exercise equipment. The company is positioning its hardware, content and data as a connected training system.

“The Peloton advantage has always been the sum of its parts,” said Chief Product Officer Nick Caldwell in the release. “It’s about the instructors and content you love, the software that simplifies wellness and equipment that fits seamlessly into your life and transforms your routine.”

That could be particularly important as Peloton tries to reach more experienced and affluent athletes who may already use products from Garmin, Whoop and other fitness platforms.

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Peloton already integrates with Apple Health, Fitbit and Garmin Connect. It is now adding Whoop, allowing members to connect their accounts and have Peloton workouts contribute to personalized insights in the Whoop app.

The company is leaning further into the broader running boom, offering more than 17,000 Tread-specific classes and adding race-training programs designed to take members through full training for events like the New York City Marathon.

For investors, however, the key question isn’t whether the new products offer a better exercise experience than the old ones. It is whether they can change Peloton’s growth trajectory.

Truist analyst Youssef Squali told CNBC in a statement that the firm expects “revenue to remain pretty muted given continuous headwinds to subscriber growth.” He said the firm anticipates next calendar year will be better for Peloton as its hardware and software improves and it refinances its debt.

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Squali has a “buy” rating on the stock and a $9 price target, compared with its Monday closing price of $4.95 a share.

The equipment changes add to a range of efforts Peloton is making to boost its business.

The company also recently expanded its content distribution through a partnership with Spotify, putting more than 1,400 Peloton strength and wellness classes in front of Spotify Premium subscribers. It is also building a commercial fitness business, selling more durable versions of its equipment to hotels, apartment buildings, gyms and other high-use environments.

After years of focusing on cost cutting and financial stability, Peloton is now trying to convince investors that it can grow the business again.

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The holiday season will be an early test of that strategy.

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AI Optimism Returns, Pushing Inflation Risks Into The Background

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Why Retail Traders Consistently Underperform Over Time

AI Optimism Returns, Pushing Inflation Risks Into The Background

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