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iSynergy Group (ASX:IS3) is one of the top gainers on Thursday with news it has inked an MOU towards building an AI data centre in Malaysia.
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Usually an MOU on its own, non-binding, wouldn’t move much. But in this case IS3 has teamed up with NASDAQ-listed Treasure Global.
While the latter is, as far as the NASDAQ goes, itself a microcap the deal revolves around the acquisition of “AI-based GPUs.”
In layman’s terms, those are the microchips and server boxes that allow Large Language Model (LLM) chatbots like ChatGPT to work, the hardware that pertains to “machine learning.”
Overall, the MOU seeks to explore the “potential joint initiatives to design, develop, and deploy AI cloud infrastructure in Malaysia.”
The thing about Treasure Global, however, is it too is in Malaysia. So there the MOU seems to be more manifestly possible than what other non-binding deals may propose elsewhere on the ASX.
Of course, looking at ISynergy’s website, it’s hard to figure out what the company actually does. “We are dedicated to providing innovative digital solutions that support job creation, skill development, and entrepreneurship,” the company writes on its website.
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From the look of things, it appears that iSynergy may be interested in leveraging Treasure’s exposure to the Malaysian landscape, taking a shot at becoming an AI cloud provider like America’s big megacaps in a jurisdiction where the AUD carries more weight.
IS3 last traded at 2.1cps.
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