TVB (00511) announced on August 10, 2026, that it has entered into a framework agreement with Triton Square Limited, an affiliate of Gaw Capital Partners, to establish a new joint venture. The venture aims to provide advanced computing services for artificial intelligence applications in Hong Kong.
The proposed joint venture will allocate 51% of its ordinary voting shares to TVB and 49% to Gaw Capital. The entity will plan, direct, and fund the development of new computing facilities at TVB's corporate campus in the Tseung Kwan O Industrial Estate. Within these facilities, the joint venture will procure, configure, and operate computing equipment, including GPUs and CPUs, to deliver AI-related advanced computing services on a subscription basis to both external third-party clients and TVB group companies.
Following the signing of the framework agreement, TVB and Gaw Capital will work towards signing a formal agreement in the second half of 2026 to establish the joint venture and commence project implementation. The project will be rolled out in phases over several years, with funding sourced from Gaw Capital's equity investment of up to HKD 2 billion in the joint venture, project bank financing, and internal group resources. The company targets the first phase, Sub-Phase 1A (with a planned computing capacity of approximately 10,000 PetaFLOPS), to become operational from the fourth quarter of 2027.
TVB is seeking approval from relevant government authorities to proceed with the project. Additionally, TVB and Gaw Capital are in discussions with CLP Holdings Limited and various international and domestic computing equipment suppliers regarding power supply for the planned facilities and the procurement of GPUs and other hardware for advanced computing services. The partners are also assembling a team of experts and professionals to drive the project forward.
On July 15, 2026, TVB and Gaw Capital signed a letter of intent with a leading global technology group for the subscription of advanced computing services. The parties are negotiating technical and commercial terms for the proposed services and exploring various procurement and financing options to secure the computing equipment needed for the subscription model. A formal agreement is expected to be signed in the second half of 2026.
The company is advancing these plans as part of its ongoing transformation from a traditional television broadcaster into a diversified media company in the digital era, aiming to broaden its revenue streams. Leveraging years of collaboration with leading technology firms, TVB sees a significant and growing demand for computing resources driven by the rise of AI, particularly in media content production. As TVB increasingly adopts AI tools and applications to optimize internal creative processes and boost AI-generated content output, its own computing needs are expected to rise in the coming years. The company is also exploring potential AI tools and services that could allow external content creators to utilize TVB's extensive content library, thereby enhancing content production efficiency. As a key future user of the project, TVB sees it as a vital driver of its transformation. Through this initiative, the company also aims to play a leading role in advancing AI to the forefront of media content creation and production in Hong Kong and the region.
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