Inspur Electronic Information Industry (SHE:000977) plans to raise up to 9 billion yuan from a private share placement, according to a weekend disclosure on the Shenzhen bourse.
The number of shares for placement is yet to be finalized.
Proceeds will support five initiatives, including AI infrastructure R&D, liquid-cooling data center systems, multi-agent storage-compute integration, manufacturing upgrades for high-density computing equipment, and 2.70 billion yuan allocated to supplement working capital.
The Chinese information technology company's shares fell over 2% Monday morning.