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Shenzhen Xunce Signs MoU With Lutech to Expand AI Business in Europe

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Shenzhen Xunce Technology (HKG:3317) signed a memorandum of understanding with Italy's Lutech to expand its AI data infrastructure business in Europe, according to a Hong Kong bourse filing Saturday.

The companies will develop AI services that comply with European Union data sovereignty rules and jointly commercialize AI Token Factory solutions in the region.

They also plan to build a cross-border ecosystem for AI and secure data infrastructure.

Lutech is an Italian digital and AI services provider with more than 6,000 employees and annual revenue of about 1 billion euros, the filing said.

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