TVB's board announced on Aug. 10 a plan to form a joint venture with Gaw Capital to provide AI computing power services. The two sides would hold 51% and 49% of ordinary voting shares respectively. The project will be rolled out in phases, pending government approval. Funding will come from up to HK$2 billion in equity from Gaw Capital, project bank financing, and TVB's internal resources. TVB says it is seeking government approval and is in talks with CLP Holdings and several international and domestic hardware vendors over electricity supply and GPU procurement. The partners are also building an expert team.
Hong Kong's TVB has announced plans to form a joint venture with Gaw Capital to offer AI computing power services.
The TVB board said on Aug. 10 that TVB and Gaw Capital would hold 51% and 49% of the ordinary voting shares in the proposed JV, respectively. The project will be implemented in stages over the next several years, subject to government approval. Funding will come from a combination of up to HK$2 billion in equity investment from Gaw Capital, project bank financing, and the group's internal resources.
In its announcement, TVB said it is now applying to the relevant government authorities for approval to promote and implement the project. At the same time, the two partners are holding separate discussions with CLP Holdings and a range of international and domestic computing power equipment suppliers. Those discussions cover electricity supply for the planned computing facilities and the purchase of GPUs and other related hardware needed to deliver advanced computing services.
TVB and Gaw Capital are also assembling a team of experts and professionals to push the project forward.
The news was reported by HK01.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
