EdgeMode and Vertical Data sign MOU for 20-megawatt AI data center

FORT LAUDERDALE/LAS VEGAS - EdgeMode, Inc. (OTC:EDGM), whose stock has surged 136% over the past year according to InvestingPro data, and Vertical Data Ltd. have signed a non-binding Memorandum of Understanding to jointly develop and market a 20-megawatt data center in Sweden focused on artificial intelligence and high-performance computing workloads, the companies announced Wednesday.

The collaboration will combine EdgeMode’s Marviken Smart Energy Cluster, which features 95 megawatts of renewable power and immersion cooling technology, with Vertical Data’s AI-cluster design capabilities and GPU financing solutions. Despite reporting negative EBITDA of $23.17 million in its latest quarter, EdgeMode maintains a Fair financial health rating according to InvestingPro analysis.

Under the agreement, EdgeMode will provide the infrastructure components including space, power, cooling, network connectivity, and managed services from its Sweden-based facility. Vertical Data will supply AI-optimized GPU servers, design customized AI clusters, and offer financing options through its GPUFinancing.com platform.

"By combining our renewable-powered data center capabilities with Vertical Data’s AI hardware expertise and financing solutions, we can provide an unmatched value proposition for AI and HPC clients worldwide," said Simon Wajcenberg, CFO of EdgeMode Ltd.

Christopher Creatura, CFO of Vertical Data Ltd., stated that the collaboration will give customers "access to cutting-edge GPU clusters, flexible financing, and a world-class facility in Sweden."

The companies plan to begin joint marketing activities immediately, with the first customer-ready solutions expected to be showcased at upcoming industry events.

The completion of the collaboration remains subject to negotiation and execution of definitive agreements and satisfaction of customary closing conditions, according to the press release statement. InvestingPro analysis reveals 7 additional key insights about EdgeMode’s financial position and market performance, available to subscribers.

In other recent news, EdgeMode Inc. has announced a significant development by signing a Memorandum of Understanding to merge with BlackBerry AIF. This merger will create a combined entity with control over 4.4 gigawatts of hyperscale-ready data center capacity across Spain and Europe. Under the agreement, EdgeMode will acquire 100% of BlackBerry AIF’s issued share capital. In return, BlackBerry AIF stakeholders will receive 50% of EdgeMode’s outstanding equity upon the deal’s closing. The merger is expected to increase the combined company’s assets by over $140 million. This development positions EdgeMode to expand its data center capabilities significantly. The merger reflects a strategic move to enhance the company’s infrastructure and market presence. These recent developments highlight the ongoing changes within the company.

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