124 views
Photo by Igor Omilaev from Unsplash

Valuetronics invests $7.7m in AI JV with SinnetCloud HK

Valuetronics will hold 55% interest in the JV.

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

Through its wholly-owned subsidiary, Value Match Company Limited (VML), Valuetronics will invest $7.7m in cash for a 55% interest in the JV, whilst SinnetCloud HK will hold the remaining 45%.

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.

Under the JV, 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.

TrioAI will also be responsible for the maintenance, upkeep, and associated costs of the leased equipment during the lease term, which comes with an exclusive option to VML and/or an affiliate for future equipment leasing.

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.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...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.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Singapore push to preserve hawker culture in doubt
Foreigners may be averse to a difficult job in a food business that doesn’t pay well.
Quocia stirs social media buzz for SMEs
Its AI tool automates social media strategy, content creation, scheduling, and posting.
Income-Allianz failed merger shows popular opinion is king
The deal faced backlash from Singaporeans who thought it betrayed Income’s social mission.