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Being AI Share Price: An NZX AI Story That Ran Out of Road at $0.02

Being AI Share Price Today

The Being AI share price sits at about $0.02 NZD (NZX: BAI) in mid-June 2026, down roughly 65% over the past year. With a market cap near $3.5 million, Being AI is a cautionary tale rather than an investment opportunity: a company that listed with an artificial-intelligence story and has since wound its operations down to almost nothing.

This article is less a stock analysis than a warning about how thematic micro-caps can disappoint.

How Being AI Got Here

Being AI did not list through a conventional IPO. It was previously the NZX-listed shell Ascension Capital (ticker ACE), and was renamed Being AI in March 2024 via a reverse-listing transaction, riding the wave of investor enthusiasm for anything labelled artificial intelligence. The stated plan was a diversified AI services and investment business: building AI solutions, investing in technology, and helping clients with AI transformations.

The reality fell well short. Being AI's FY26 results, released in May 2026, revealed a year in which operational activities had effectively ceased. An AI company that listed amid hype has ended up as a near-empty shell, with the share price collapsing to two cents to match.

Key Metrics

  • •Share price: ~$0.02 NZD
  • •Market cap: ~$3.5 million NZD
  • •52-week move: about -65%
  • •Net tangible assets: roughly zero (about -$0.001 per share)
  • •Operations: effectively ceased per FY26 results
  • •Gross dividend yield: 0%

Any positive-looking earnings figure for a company in this state is likely driven by one-off accounting items related to winding down, not a real, ongoing business. There is essentially no operating company left to value here.

The Lesson for Investors

Being AI illustrates a recurring NZX (and global) pattern: a small shell adopts a hot theme, a hyped name, and a reverse listing, attracts speculative buying, and then fails to build a real business. Reverse listings into trendy sectors deserve extra scrutiny, not less. The questions that protect investors are simple: Is there real revenue? Real customers? Real cash flow? For Being AI, the honest answer became no.

What to Watch

  • •Corporate action: As with any shell, the only realistic catalyst is another reverse takeover, recapitalisation, or change of control. None of these is predictable.
  • •Cash and solvency: With operations ceased, the remaining cash and any liabilities determine whether there is anything left for shareholders.
  • •Listing status: Watch for any NZX compliance or delisting notices.

The Bottom Line

Being AI is a near-empty shell whose AI ambitions did not translate into a viable business, leaving the shares at two cents. There is no operating company to value, no revenue to speak of, and no dividend. Any remaining interest is pure speculation on a corporate event that may never arrive. For almost all investors, the sensible course is to stay away, and to treat Being AI as a case study in the risks of hype-driven micro-cap listings.

For how we assess shells and thematic speculation, see our [methodology](/methodology).

*Disclaimer: This article is for educational and informational purposes only. It does not constitute financial advice. Stock data may not be real-time. Always conduct your own research and consult with a qualified financial advisor before making investment decisions.*