The shares of one of India’s leading high-end computing solutions (HCS) providers gained up to 10 percent to Rs 890.90 per share after the company collaborated with NVIDIA to Unlock the Potential of AI and High-Performance Computing.
At 12:35 p.m., Netweb Technologies India Ltd shares were quoted at Rs 887 per share, up 9.33 percent from the previous close price. The company has a market capitalization of Rs 4,972 crore.
According to Netweb Technologies India regulatory filing, the company collaborated as a manufacturing partner for the NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs.
Through collaboration, Netweb will build and produce more than ten server variations under its Tyrone range of AI systems and high-performance computing/supercomputing applications.
Netweb’s AI systems will target difficult workloads such as HPC, data science, huge language models, edge computing, enterprise AI, and design and simulation using NVIDIA MGX, a modular reference architecture. The product line will also be capable of managing several concurrent workloads such as AI training, inference, and 5G on a single machine.
Netweb’s AI systems with NVIDIA MGX will help the country’s ‘Make in India’ program. Simultaneously, local system manufacturing will create a local ecosystem to better address the demands of both government and commercial organizations for AI and accelerated computing applications.
In addition, Netweb’s NVIDIA MGX platform-based portfolio can help build sovereign AI infrastructure for India and other nations.
Netweb Technologies India’s revenue has increased by 95 percent year on year, from Rs 74 crore in Q2FY23 to Rs 145 crore in Q2FY24. During the same period, Net profit has jumped by 66 percent from Rs 9 crore to Rs 15 crore.
As per the recent shareholding pattern, the company promoter holds a 75.45 percent stake, while Foreign Institutional Investors hold a 10.33 percent stake and retail investors hold a 6.77 percent stake in the company.
Netweb Technologies India is one of India‘s leading high-end computing solutions (HCS) providers which designs, manufactures, and deploys HCS comprising proprietary middleware solutions, end-user utilities, and precompiled application stack.
Written by Omkar Chitnis
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