Mercurity Fintech (MFH) said Monday it has signed a term sheet with an unnamed precision parts manufacturer for the creation of a Hong Kong-based joint venture focused on AI hardware intelligent manufacturing and liquid cooling systems for AI servers.
Mercurity Fintech said it will hold a 51% stake in the joint venture, which will be backed by an initial investment of $9.8 million.
Shares of Mercurity Fintech were up more than 5% in recent Monday trading.
Price: 6.85, Change: +0.35, Percent Change: +5.38
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