Taoping awarded RMB 16.2M contract to provide AI servers to Fuzhou Shenpeng

Taoping announced the Company was awarded a RMB16.2 million contract to provide AI servers to Fuzhou Shenpeng Technology Co. Ltd. The Company expects to recognize the revenue from this contract by the first quarter of 2024. Taoping’s Chairman and CEO, Lin Jianghuai, commented, “The rapid advancement and widespread adoption of AI are propelling forward at an astonishing pace. This presents transformative prospects across a wide array of industries, urging management teams to take notice and decide whether to evaluate and take advantage of these technological advances or risk potentially falling behind. Taoping dedicates significant resources to developing our AI product suite, which ranges from essential AI servers to our robust Cloud Nest AI platform, a platform that aims to provide customers with a powerful solution for intelligent data collection and analysis as they seek efficient ways to adopt AI solutions over the near term that can provide long-term benefits. As a result, we expect AI to become an even more meaningful contributor to our growth and profitability over the coming years.”