Netweb Technologies Shares Soar 10% On Manufacturing Pact With Nvidia
Netweb will build 10 server variations under its Tyrone range of artificial intelligence systems.
Shares of Netweb Technologies India Ltd. soared 10% to their highest level in over a month on Tuesday after it signed a pact with Nvidia to be its manufacturing partner.
Netweb will build 10 server variations under its Tyrone range of artificial intelligence systems, which are meant for a wide range of AI, and high-performance computing and super-computing applications, according to an exchange filing.
Netweb's AI system, with Nvidia MGX, a modular reference design, will target functions of high-performance computing, data science, large language models, edge computing and enterprise AI, it said.
Netweb's stock rose as much as 10% during the day on the NSE to Rs 892.40 apiece, the highest since Oct. 19. It pared gains to trade 7.6% higher at Rs 872.95 apiece, compared to a 0.16% advance in the benchmark Nifty 50 as of 9.39 a.m.
The total traded volume so far in the day stood at 12 times its 30-day average. The relative strength index was at 65.88.
