Blue Cloud Softech Solutions share price jumped over 17% in Friday's trade after the company announced that its US subsidiary recieved a signifcant order from IBM Cloud Inc. for AI infrastructure services. The smallcap penny stock surged as much as 17.20% to Rs 23.50 apiece on the BSE.
Global Impx, a wholly owned subsidiary of Blue Cloud, received a signed Statement of Work from IBM Cloud for AI Infrastructure Design, Deployment and Support Services. The fixed-fee order is valued at $15.5 million, or approximately Rs 147 crore.
According to the exchange filing, Blue Cloud will be responsible for design, deployment, configuration, integration, testing and support of an AI infrastructure environment. The project began on September 24, and the payments are linked to five project criteria.
“Our teams have already mobilised. We will deliver against clear milestones and service levels, including 99.5 per cent availability, and we aim to earn a long-term relationship with the client that extends well beyond this engagement,” Managing Director and Group CEO, Vinod Babu Bollikonda, commented.
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Under the project, Global Impx will build and support a GPU-powered AI infrastructure environment in New Jersey for model development, training, fine-tuning, and inference.
The scope includes GPU compute clusters, high-performance storage and networking, AI and machine-learning platforms, Kubernetes-based orchestration, security, monitoring, backup and disaster recovery. The project also includes a stabilisation and support period after production handover.
The company said the IBM Cloud order came within three months of Global Impx joining the Blue Cloud group.
“AI is moving out of the lab and into production, and that move runs on infrastructure. Winning this mandate from IBM Cloud within three months of GIX joining Blue Cloud shows that our US platform can compete for, and deliver, the most demanding AI infrastructure work. This is the high-value, repeatable business we set out to build when we brought GIX into the group,” Blue Cloud Softech Solutions Limited Group Chairman, Tejesh Kumar Kodali, said.
At 11:30 AM, Blue Cloud Softech Solutions share price was trading 14.91% higher at Rs 23.04 apiece on the BSE.
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