LS Eco Energy is up more than 12% in early trading. Buying appears to be piling in on news that it will supply power cables to a mega artificial intelligence (AI) data center in Vietnam.
As of 9:50 a.m., LS Eco Energy was trading at 104,800 won on the Korea Exchange, up 11,400 won (12.21%) from the previous session. It climbed to as high as 109,800 won in early trading, setting an all-time high.
Before the market opened, the company said its Haiphong manufacturing subsidiary LS-VINA will supply power cables for a mega AI data center project by Viettel, Vietnam's largest telecom group.
The project is one of the largest AI infrastructure projects in northern Vietnam. It will be built with a total capacity of 60 megawatts (MW) in a new city near Hanoi. That is the level of electricity used simultaneously by 40,000 to 50,000 households, and is aimed at responding to the growing demand for Generative AI and cloud.
LS Eco Energy is also eyeing additional projects in line with Viettel's expanding investments in AI and telecom infrastructure across Southeast Asia. The company also plans to strengthen its optical cable manufacturing capabilities, in addition to existing power solutions, to meet the growing demand for AI data centers.
Lee Sang-ho, CEO of LS Eco Energy, said, "We will step up our push into the global AI infrastructure market, focusing on extra-high-voltage cables and power and optical communication solutions for data centers."