Data Solution has seen its shares soar following the announcement of a supply contract with Samsung SDS worth 438.1 billion won for artificial intelligence (AI) computing infrastructure.
As of 9:38 a.m. on July 8, Data Solution's stock was trading at 5,940 won, up 1,370 won (29.98%) from the previous trading day, according to the Korea Exchange.
The company disclosed that it signed a contract with Samsung SDS for the AI computing resource enhancement project, valued at 438,141,138,000 won, after the market closed the previous day.
The contract amount represents 422.04% of Data Solution's revenue of 103.8 billion won from the previous year. The contract period extends from the day of signing until December 31, 2031.
Through this contract, Data Solution will supply hardware (HW), software (SW), and related services for building AI infrastructure, including GPU servers. The sales and supply will take place at Samsung SDS's Dongtan data center.
This project is part of the AI computing resource enhancement initiative promoted by the Ministry of Science and ICT's National IT Industry Promotion Agency (NIPA). Data Solution will supply goods to NIPA through its cloud service provider (CSP) partner, Samsung SDS. Payment will be made with 50% as an advance and the remaining 50% as a final payment.
* This article has been translated by AI.
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