Junee Ltd (JUNE) announces MOU with PanaAI

Junee Ltd (NASDAQ: JUNE)

On August 27, 2024, Junee Limited (the “Company”) announced a non-binding memorandum of understanding (the “MOU”) between the Company and PanaAI Technology Pty Ltd (“PanaAI”), an artificial intelligence computing services and operations company that is a NVIDIA Cloud Partner in Australia and member of the NVIDIA Ecosystem.

Pursuant to the MOU, the parties have agreed to collaborate to explore the feasibility of developing artificial intelligence products and the construction and operation of supercomputing centers for artificial intelligence technology. The parties also intend to plan the construction of a supercomputing power center in Australia consisting of 511 AI servers with up to 4,088 GPUs, which may involve investment up to USD $200 million and will be implemented in phrases.

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