SINGAPORE, Oct. 15,
2024 /PRNewswire/ -- Junee Limited (NASDAQ: JUNE)
(the "Company"), today announced that its wholly-owned subsidiary,
ASPAC AI Computing Pty Ltd ("ASPAC"), has entered into a customer
purchase agreement (the "Agreement") with PanaAI Technology Pty Ltd
("PanaAI"). The Agreement, effective as of October 15 2024, marks a strategic step towards
enhancing ASPAC's capabilities in artificial intelligence and
advanced computing.
Under the Agreement, PanaAI will supply ASPAC with a
comprehensive suite of high-performance computing resources,
including state-of-the-art data center infrastructure, Nvidia
Networking products, and Nvidia H200 GPU servers, alongside
professional services to support the integration and optimization
of these technologies. This collaboration is designed to accelerate
ASPAC's development and deployment of cutting-edge AI solutions,
aligning with the Company's vision to lead in the digital
infrastructure sector through technological innovation.
The total consideration for the Services provided by PanaAI is
expected to be approximately US$ 100
million, payable in installments over the course of the
Agreement. This financial commitment represents a substantial
investment in ASPAC's future growth and is part of the broader
non-binding memorandum of understanding(MOU) between Junee Limited
and PanaAI, announced on August 27,
2024, which outlined plans for up to US$200 million in investments aimed at fostering
innovation and expanding market presence through the development of
artificial intelligence products and the construction and operation
of supercomputing centers for artificial intelligence
technology.
"This Agreement with PanaAI is a pivotal moment for ASPAC and
Junee Limited," said Yu Chun Kit,
Director of Junee Limited. "By leveraging PanaAI's expertise and
advanced technology, we are poised to revolutionize the way we
deliver smart home and commercial design solutions. Our investment
in this partnership underscores our commitment to driving industry
leadership through innovation and technology."
The collaboration with PanaAI is expected to significantly
enhance ASPAC's technical capabilities, enabling the Company to
develop more sophisticated AI-driven applications and services that
can better meet the evolving needs of customers. With access to
top-tier hardware and software, the Company aims to push the
boundaries of what is possible in the realm of smart home
automation, interior design, and beyond.
For investors and stakeholders, this strategic move by Junee
Limited demonstrates the company's proactive approach to
capitalizing on emerging trends in artificial intelligence and
technology. It also reflects Junee's dedication to maintaining a
competitive edge in a rapidly evolving market landscape.
Historical Events:
On August 27, 2024, the Company
announced a non-binding memorandum of understanding with PanaAI.
PanaAI is an artificial intelligence computing services and
operations company that is a NVIDIA Cloud Partner in Australia and member of the NVIDIA
Ecosystem.in Australia. Both
parties agreed to collaborate on the development of artificial
intelligence products and explore the construction of
supercomputing centers in Australia, potentially involving up to USD
$200 million, including 511 AI
servers with up to 4,088 GPUs.
On September 18, 2024, the Company
announced that its wholly-owned subsidiary, ASPAC AI Computing Pty
Ltd entered into a service contract with PanaAI for the design,
integration, and deployment of an artificial intelligence
superfactory (AISF).
About Junee Limited:
Junee Limited (NASDAQ: JUNE) is a company that specializes in
providing high-quality residential and commercial interior design
solutions. Through its subsidiaries, including OPS and now ASPAC AI
Computing, Junee aims to become a leading technology company
dedicated to developing and delivering next-generation digital
infrastructure solutions. It is committed to integrating smart
technology into every aspect of its offerings, setting new
standards for innovation and excellence in the industry.
This press release contains
forward-looking statements that involve risks and uncertainties.
Actual results may differ materially from those indicated by such
forward-looking statements due to various factors. Investors are
advised to refer to the documents filed by Junee Limited with
the Securities and Exchange Commission, including the most recent
Form 20-F, for a discussion of these risks and
uncertainties.
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SOURCE Junee Limited