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Gorilla Technology Group Inc. (NASDAQ:GRRR) stock is up Wednesday after the company signed a $1.4 billion deal with Freyr to build a network of data centers across Southeast Asia.
What To Know: Gorilla Technology’s contract with Freyr will span three years with optional two-year extensions, and focuses on Indonesia, Malaysia and Thailand. Gorilla shares jumped 12% immediately after the data center deal was announced. Shares were up about 10% at last check, according to Benzinga Pro.
“Gorilla has a uniquely strong understanding of this region and therefore the right vantage point to develop this critical network of data centres,” said Gorilla chairman and CEO Jay Chandan. “Phase One alone is $300 million and it is only the start of a much larger expansion.”
Under the contract, Gorilla will serve as principal operator and infrastructure lead and Freyr will become the company’s regional expansion partner.
The two companies have already started choosing sites for the center as part of the initial phase. System integration for the initial phase is already underway as well, with AI services expected to go live in early 2026. Infrastructure deployment schedules and other parts of the agreement are yet to be finalized.
“Freyr and Gorilla are already targeting new data centre opportunities worth at least $2.5 billion over the next couple of years,” said Freyr CEO Cary Liu. “The Southeast Asian data centre market is expected to exceed $12 to 15 billion.”
GRRR Price Action: Gorilla shares were up 10.36% at $19.58 the time of publication on Wednesday, according to Benzinga Pro.
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Posted In: GRRR
