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Gorilla Technology Signs Data Center LOI Ahead of November Earnings

MixedMedium impact
GRRR$11.13 −6.78%

Gorilla Technology Group, Inc. (NASDAQ:GRRR) has signed a nonbinding letter of intent to acquire a U.S. data center. The facility currently offers about 6 megawatts of capacity, with room to expand to approximately 36 megawatts. Utility support could enable an additional 30 megawatts of power within about 18 months, with infrastructure upgrades targeting artificial intelligence and GPU cooling.

The potential acquisition highlights the company's efforts to expand its infrastructure footprint for high-performance computing workloads. Meanwhile, shares fell 6.78% today to $11.13. Analysts maintained Buy ratings on the stock during 2024 and 2025.

Investors are now looking toward the company's next financial report, expected around November 16. Projections point to quarterly earnings of $0.11 per share on revenue of approximately $38.69 million.

Key points

  • Gorilla Technology Group, Inc. signed a nonbinding LOI to acquire a U.S. data center with 6 MW initial capacity, expandable to 36 MW.
  • Utility infrastructure supports up to 30 MW of additional power over roughly 18 months for AI and GPU cooling upgrades.
  • The company is scheduled to report earnings around November 16, with projected EPS of $0.11 on revenue near $38.69 million.
  • Gorilla Technology shares dropped 6.78% today to end at $11.13 USD.

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Questions and answers

What data center is Gorilla Technology acquiring?

Gorilla Technology Group, Inc. signed a nonbinding LOI for a U.S. data center with 6 MW initial capacity, expandable to 36 MW with utility support for 30 MW more.

When are Gorilla Technology's next earnings expected?

Gorilla Technology is expected to report earnings around November 16, with projections targeting $0.11 EPS on roughly $38.69 million in revenue.

How did Gorilla Technology stock perform today?

Shares of Gorilla Technology Group, Inc. (NASDAQ:GRRR) fell 6.78% today to $11.13 USD.