Valuetronics invests $7.7m in AI JV with SinnetCloud HK

SGX-listed Valuetronics has formed a joint venture with SinnetCloud HK to boost the AI industry in Hong Kong.

Trio AI, the JV, aims to deliver GPU and AI-related value-added cloud services, including data and model services on an"as-a-service" basis., Valuetronics will acquire GPU-enabled servers and ancillary hardware required for the JV and lease them back to TrioAI for a term of 60 months at a rent not exceeding $60m.

The group plans to evaluate the investment's outcome before making further commitments. If deemed beneficial, it plans to seek shareholders' approval to expand its core business....there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

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Valuetronics FY24 profit up 29.8% despite double-digit revenue droppstrongRevenue fell 17.1% YoY to HK$1.7b (S$294.25m)./strong/p pValuetronics saw its net profit rise 29.8% YoY to HK$159.6m (S$27.6m) in FY24 despite a double-digit decline in its revenue./p pIn FY24, revenue fell 17.1% YoY to HK$1.7b (S$294.25m)./p pIndustrial & Commercial Electronics accounted for 75.
Source: SBRMagazine - 🏆 13. / 51 Read more »