Zinger Key Points
- Gorilla partnered with Edgecore to launch AI GPUs targeting smart cities and underserved markets.
- Following the announcement, Gorilla's shares rose by 17%, with Northland Capital Markets raising the stock's price target to $13.
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Gorilla Technology Group Inc. GRRR shares are on the rise Monday after the company announced some strategic advancements in the AI infrastructure space.
What To Know: Gorilla Technology has partnered with Edgecore Networks to launch self-branded AI GPUs, using Intel's Gaudi architecture and Edgecore's 800G Ethernet switches.
“With the launch of our self-branded AI GPUs, Gorilla is not merely participating in the AI compute market; we believe we are redefining it by boldly addressing underserved regions and shaping the future of intelligent urban infrastructure,” said Jay Chandan, Chairman and CEO of Gorilla.
Gorilla Technology stated its intention to target deployments of its AI GPUs across over 50 planned or proposed AI data centers by 2032, with further expansion anticipated in underserved markets by 2035. By offering integrated solutions under its own brand, Gorilla aims to simplify procurement and improve compatibility for city planners and officials.
What Else: Northland Capital Markets maintained an Outperform rating on the stock and raised its price target from $9 to $13.
GRRR Price Action: Gorilla Technology Group shares were up 18.9% at $7.82 at the time of writing, according to Benzinga Pro.
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