Luda Technology plans to acquire a 55% stake in an AI data center company for $935,000.

on November 2, according to PR Newswire, Luda Technology Group Limited (NYSE American: LUD) announced that on October 29 it signed a share purchase agreement to acquire a 55% stake in Asia AI Data Centre & Quantum Technology for $935,000, marking its formal entry into the operational management of computing infrastructure.

Simultaneously, Luda Technology signed a strategic cooperation memorandum with Huazhi Future, a subsidiary of Nasdaq-listed company Maase, to explore expansion in Southeast Asian computing operations, liquid cooling technology R&D, and financing collaborations. The parties plan to jointly build or operate intelligent computing centers and edge computing nodes in the ASEAN region, and will explore establishing a joint liquid cooling technology laboratory.

The announcement stated that the strategic memorandum primarily serves as a framework outlining cooperation intentions, and that specific initiatives will require separate formal agreements to be finalized.