Gorilla Technology Signs LOI for First U.S. Data Center, Targets 100 MW AI Buildout
GRRR sits 22% above its 52-week low of $9.04.
Summary
Gorilla Technology signed a non-binding letter of intent to acquire its first U.S. data center, currently 6 MW with a path to about 36 MW after utility-backed power expansion expected in about 18 months. The company is targeting completion by end of November 2026, subject to due diligence and approvals. CEO Jay Chandan framed the deal as the foundation for a broader U.S. AI infrastructure strategy aiming to build beyond 100 MW over the next 12-18 months. Shares fell 8.29% to $10.95, reflecting investor caution around the non-binding nature, the 18-month power timeline, and execution risk. The stock is trading below its 20-day, 50-day, and 200-day SMAs with an RSI of 29.30, indicating oversold conditions. This follows a series of convertible note offerings totaling $232M in gross proceeds earlier this year, which funded acquisitions and AI infrastructure expansion.
At the time of this announcement, GRRR was trading at $11.02 on NASDAQ in the Technology sector, with a market capitalization of approximately $303M. The 52-week trading range was $9.04 to $23.49. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Benzinga.