Core Viewpoint - Junee Limited is strategically focusing on developing and operating artificial intelligence (AI) computing centers, planning to raise up to US$40 million for this initiative [1][4]. Funding Allocation - The planned financing of up to US$40 million will primarily support the establishment of an AI supercomputing center in Australia and enhance the company's working capital [2][3]. - The AI supercomputing center will consist of 511 AI servers equipped with up to 4,088 NVIDIA H200 or higher level GPUs, with a total investment in the project potentially reaching up to US$200 million [2][5]. Strategic Partnerships - Junee Limited has entered into a non-binding memorandum of understanding with PanaAI Technology Pty Ltd, an NVIDIA Cloud Partner, to collaborate on AI product development and the construction of AI supercomputing centers in Australia [4][5]. - A service contract was established between Junee's subsidiary ASPAC AI Computing Pty Ltd and PanaAI for the design, integration, and deployment of an artificial intelligence superfactory [6]. - A customer purchase agreement was signed with PanaAI for hardware and software services, with ASPAC expected to pay approximately US$100 million in installments [7]. Company Overview - Junee Limited, through its subsidiary ASPAC, specializes in supercomputing infrastructure and aims to advance artificial intelligence and high-performance computing (HPC) [8]. - The company is constructing a supercomputer facility in the Southern Hemisphere to support advancements in technologies such as Large Language Models (LLMs), autonomous driving, and climate science [9][10].

Core Insights - Junee Limited's subsidiary, ASPAC AI Computing, has signed a customer purchase agreement with PanaAI Technology to enhance its capabilities in artificial intelligence and advanced computing [1][2] - The agreement includes the provision of high-performance computing resources, including Nvidia products and professional services, aimed at accelerating AI solution development [2] - The total consideration for the services is approximately US$100 million, part of a broader MOU for up to US$200 million in investments to foster innovation in AI products and supercomputing centers [3][6] Company Strategy - The collaboration with PanaAI is seen as a pivotal moment for ASPAC and Junee Limited, aiming to revolutionize smart home and commercial design solutions [4] - The partnership is expected to significantly enhance ASPAC's technical capabilities, enabling the development of sophisticated AI-driven applications [4][5] - Junee Limited's proactive approach reflects its commitment to maintaining a competitive edge in the rapidly evolving AI and technology market [5] Historical Context - A non-binding MOU was announced on August 27, 2024, outlining plans for collaboration on AI products and supercomputing centers, potentially involving 511 AI servers with up to 4,088 GPUs [6] - On September 18, 2024, ASPAC entered into a service contract with PanaAI for the design and deployment of an artificial intelligence superfactory [7] Company Overview - Junee Limited specializes in high-quality residential and commercial interior design solutions and aims to integrate smart technology into its offerings [8]

Hong Kong, April 19, 2024 (GLOBE NEWSWIRE) -- Junee Limited (the "Company" or "Junee"), a provider of interior design, fit-out and maintenance services in Hong Kong, today announced the closing of its initial public offering (the "Offering") of 2,000,000 ordinary shares at a price of $4.00 per share. The ordinary shares began trading on the Nasdaq Capital Market on April 17, 2024 under the ticker symbol "JUNE". The Company received aggregate gross proceeds of $8 million from the Offering, before deducting u ...

Hong Kong, April 17, 2024 (GLOBE NEWSWIRE) -- Junee Limited (the "Company" or "Junee"), a provider of interior design, fit-out and maintenance services in Hong Kong, today announced the pricing of its initial public offering (the "Offering") of 2,000,000 ordinary shares at a price of $4.00 per share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 17, 2024 under the ticker symbol "JUNE". The Company expects to receive aggregate gr ...