Gorilla Technology Group Inc. (GRRR) Inks $1.4B AI-Powered Data Centers Deal

Gorilla Technology Group Inc. (NASDAQ:GRRR) is one of the cheap AI stocks to buy right now. On September 17, the company signed a $1.4 billion Contract with Freyr Singapore. The three-year contract is for the construction of a network of AI-powered data centers across Southeast Asia.

Gorilla Technology Group Inc. (GRRR) Inks $1.4B AI-Powered Data Centers Deal

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Construction is set to begin with an initial $300 million phase, which is scheduled to launch in the fourth quarter. The construction will position Gorilla as a leading provider of AI infrastructure, service-level operations, and data center intelligence across key regional markets.

Gorilla will utilize local co-location facilities to deploy its proprietary AI stack, including GPU-as-a-Service infrastructure. The two companies aim to target new data center opportunities, as the Southeast Asian data center market is projected to exceed $12 billion to $15 billion.

“We have been building in AI for more than 17 years, and we understand this region better than most. To have secured a customer of this calibre, a multi-billion-dollar telco with unmatched scale and reputation, is a powerful validation of Gorilla’s capability. Being trusted by such an institution from the outset speaks volumes about the strength of our platform and execution model,” said Jay Chandan, Chairman & CEO, Gorilla Technology Group.

Gorilla Technology Group Inc. (NASDAQ:GRRR) provides AI-powered technology and solutions for security intelligence, network intelligence, and IoT (Internet of Things) applications, with a focus on big data and cybersecurity. Its products and services are used in smart cities, government, and various industries, including manufacturing, transportation, and healthcare, to enhance safety and efficiency.

While we acknowledge the potential of Gorilla Technology Group Inc. (NASDAQ:GRRR) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than GRRR and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.