TVB to Set Up JV with Gaw Capital for AI Computing Power Services

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.