Benzinga | Jan 26, 2022 12:10PM EST

US Steel Invests In Carnegie Foundry To Accelerate Automation Capabilities

* United States Steel Corp (NYSE:X) disclosed a strategic investment in robotics and AI studio Carnegie Foundry. Deal terms were not disclosed.

* The parties will work to accelerate and scale industrial automation driven by advanced robotics and AI.

* As part of the strategic relationship, U. S. Steel will join Oshkosh Corp (NYSE:OSK), both anchor investors, on the Carnegie Foundry board of directors.

* Pittsburgh-based Carnegie Foundry will use this investment to accelerate venture opportunities - commercializing and scaling its industrial automation portfolio of robotics and AI technologies.

* Price Action: X shares traded higher by 0.97% at $19.16 and OSK higher by 3.19% at $120.50 on the last check Wednesday.