VNET Group to dissolve special committee after founder’s withdrawal of privatisation proposal
Chinese data centre operator VNET Group, Inc. (Nasdaq: VNET) said its special committee of the company's board of directors received a letter dated July 10, 2024 from Josh Sheng Chen, Founder, Co-Chairperson and interim Chief Executive Officer of VNET, stating that he had determined not to proceed ...
July 12
China seeks to boost computing power by 30% by 2025
The development of more robust computing capabilities has emerged as a strategic imperative for China, attendees of the Global Digital Economy Conference 2024 held in Beijing heard. Driven by the burgeoning demands of the nation's digital economy and the advancements in large language models, bolstering computational power has become an economic catalyst of paramount import...
July 08
Digital Edge and Peak Energy target 500MW operating capacity for data centres
Asian data centre operator Digital Edge (Singapore) Holdings Pte. Ltd. and renewable developer and independent power producer Peak Energy Investments Ltd. have entered into an agreement whereby Digital Edge and Peak Energy will collaborate to pursue renewable energy production projects designed to power hosting facilities across APAC. Through this partnership, Peak Energy a...
June 06
VNET reports first-quarter revenues of $263m
Chinese data centre operator VNET Group, Inc. (Nasdaq: VNET) has reported its unaudited financial results for the first quarter ended March 31, 2024. VNET's IDC business, covering both wholesale and retail segments, drove the company's quarter books in an upward trend with a 5.2% year-over-year increase in revenue, reaching RMB1.28 billion (US$177.9 million). The wholesa...
June 04
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