(Yicai) Oct. 25 -- Shares of China Bester Group Telecom jumped by the exchange-imposed daily trading limit after the Chinese telecoms service provider said one of its units will supply USD20 million worth of artificial intelligence computing power services to a Singaporean client.

Bester [SHA: 603220] closed up 10 percent at CNY43.04 (USD5.89) in Shanghai today. The stock has soared 326 percent so far this year, driven by the growing prospects of the AI computing service business.

Wildlook Tech intends to rent a computing power capacity of 800 peta of FP16 performance from Bester’s unit for USD25,000 per P per year in 2024, the Wuhan-based parent company announced yesterday. The pair will negotiate a follow-up service contract after the current one expires, it added.

Bester has been making an active transition into a provider of AI computing power services in recent years, given the boom of the AI industry. Its new business model is to lease graphics processing unit servers to help clients use expensive equipment more cost-efficiently while meeting a huge computing power demand.

Intelligent computing power services related to large language models are one of Bester’s future development priorities, Chairman Li Liubing said at the China Computing Power Conference in August. Bester aims to achieve a service capability of 10,000 GPUs with 10,000 P computing power in the next three years, 5,000 P of which before the end of this year, he added.

Founded in 2016, Wildlook Tech specializes in global mobile advertising, design and development of web, multimedia, and mobile applications. Its global mobile advertising platform provides technological services of various types to advertisement publishers, service providers, and app developers across the Asian, European, and American markets, according to its website.

Editor: Futura Costaglione