On Monday, Honeywell (HON) launched Forge Plant Cognition, an industrial AI platform powered by NVIDIA AI technology and Dell Technologies' AI infrastructure. The platform helps refining, petrochemical and LNG operators improve plant operations and get more value from their existing assets.
Honeywell will first deploy the platform at Dangote's Lekki refinery in Nigeria to increase production and improve local engineering and operations capabilities.
Preliminary estimates suggest the AI platform could deliver over $0.29 in benefits per barrel, generating more than $60 million in annual gross benefits when the refinery operates at full capacity.
On the Nasdaq, the shares were trading 0.52 percent down at $220.00.
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October 16, 2026 16:06 ET Monthly consumer price inflation data and retail sales figures were the main news from the U.S. economy this week. In Europe, monthly GDP figures from the U.K. gained attention. External trade data from China was in focus in Asia. Elsewhere, the International Monetary Fund released its latest projections for the global economy.