Xingyun Technology a China-based listed company expanding from cross-border ecommerce into AI computing infrastructure, said on July 1 that its controlling subsidiary, Hainan Xingyun Intelligent Computing Technology, had signed a five-year computing platform service agreement with a customer identified only as VC.

The companies also signed a supplemental agreement.

The contracts are worth 5.5 billion yuan (US$768 million), including tax.

The company said the agreement was initially valued at 4.9 billion yuan (US$676 million).

A later supplemental agreement adjusted pricing for the remaining computing power units, raising the total contract value.

Xingyun said its board had approved the deal and classified it as a major contract in the ordinary course of business, rather than a related-party transaction or major asset restructuring.

The company did not disclose the customer’s full identity, citing commercial confidentiality.

Xingyun also said it had signed other computing-related deals since April.

These include a five-year server-leasing agreement with total project investment of about 3 billion yuan (US$418 million) and a five-year computing power service agreement worth 1 billion yuan (US$141 million), including tax.

🔗 Source: Security Times