Nepali-led Fusemachines commences trading on American Stock Exchange

Madhukar Adhikari

Washington D.C. (USA), Oct 24: Fusemachines, an IT company established by individuals of Nepalis entrepreneurs, has commenced trading on the esteemed Nasdaq stock exchange in the United States of America as of Thursday. The company, which specializes in artificial intelligence and was founded by Nepali entrepreneur Dr. Sameer Maske, has successfully initiated trading under the name Fuse following a merger that took place two years ago.

Maske, who is also the founder, expressed his gratitude to the employees who contributed to this historic achievement and to all those who motivated the team. He stated, "The innovative ideas and concepts that led us to this milestone from a small team will drive us to expand further in the future." He added, "Being listed and traded on a platform that handles the world's foremost financial instruments is a remarkable accomplishment." 

Fuse began trading at 9:30 AM New York time with the opening of the Nasdaq Stock Exchange. The company's stock is listed under the name Fuse. Currently, the company employs three hundred and fifty individuals, with two hundred and sixty based in Nepal. In a related development, Nasdaq announced on Wednesday that the partnership between CSLM Acquisition Company and Fusemachines Inc. has been finalized, allowing trading to begin on the Nasdaq capital market from Thursday. 

This marks the entry of a Nepali-founded company into the global market, creating new opportunities for investors. Dr. Samir Maske has been appointed as the Chief Executive Officer, while Kristin Chambers will serve as Chief Financial Officer. Following the merger, the board of directors will include Samir Maske, Bharat Kris, Tim Gocher, Sanjay Shrestha, and Salman Alam.  (RSS)