3 E Network Technology Group Limited (NASDAQ: MASK) shares grew sharply Monday. The company, a business-to-business information technology business solutions provider with the inspiration to become a next-generation artificial intelligence infrastructure solutions provider, today announced the execution of a Master Services Agreement with Orka Technologies Oy a Finnish company, to jointly develop an AI data center project in Finland.
This signing marks the beginning of 3E Network Company's expansion in the global data center construction and hosting business. Since then, the company has entered the high-growth international artificial intelligence infrastructure market.
“Structured over a three-year term,” according to this morning’s news release, “the Project plans an ambitious, phased expansion strategy for data center capacity deployment: launching with an initial capacity of 6MW in the first year, followed by a commitment to deploy a minimum additional capacity of 10MW annually in subsequent years. 3E Network Company will provide financial resources, technical expertise and support in data infrastructure investment and operation for this project.
Orka Technologies will contribute its local resource integration capabilities, long-term Finnish government cooperation experience, and ability to coordinate and secure the Project's required policy resources to ensure smooth project execution. To facilitate the development, construction, daily operation, and management of the Project, 3 E Network will establish a wholly-owned subsidiary in Finland. Orka Technologies will provide essential strategic support for the company’s establishment and ongoing operation integration into the local ecosystem.
MASK shares hiked 19 cents, or 64.5%, to 50 cents.
