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IPower Signs Non-binding LOI for Proposed GPU Systems Deployment

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IPower (IPW) said Thursday that it signed a non-binding letter of intent with a prospective customer to lease GPU computer systems for artificial intelligence computing.

The initial deployment is expected to involve about $6 million worth of GPU equipment with a planned 36-month lease term, the company said.

Under the proposed agreement, iPower would purchase and retain ownership of the GPU systems and lease them to the customer for use at an agreed data center, the company said, adding that if the initial deployment is successful, the potential contract value could expand to about $60 million.

Final terms, including equipment details, pricing, payment structure, and deployment plans, remain under negotiation, the company said.

Shares of iPower rose 2.2% in Thursday trading.

Price: $0.88, Change: $-0.01, Percent Change: -1.01%

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