Why General Electric Stock Rose Sharply Today

Shares of General Electric (NYSE: GE) climbed on Wednesday after the industrial giant announced a strategic partnership with Altair (NASDAQ: ALTR). As of 2:55 p.m. EST, GE's stock price was up more than 5%.

As part of the deal, Altair purchased Flow Simulator from GE Aviation. The simulation and artificial intelligence technology provider will further the development of Flow Simulator's software, which helps to optimize the design of fluid systems and machines. GE will have access to Altair's full suite of software, and the two companies will work together to explore new use cases and the possibility of additional joint ventures.

General Electric's share price popped on Wednesday. Image source: Getty Images.

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Source Fool.com