The rise came after the startup announced that it had signed a contract worth 30.7 billion won with BNINC, an AI infrastructure provider, to supply software for the National IT Industry Promotion Agency's project to procure next-generation high-performance AI computing resources including 2,016 NVIDIA Vera Rubin GPUs.
The deal, valued at nearly three times the company's annual revenue, raised expectations for a sharp increase in future earnings.
Running from Aug. 4 through March 2027, the deal follows a series of major AI infrastructure projects secured by XIIlab. Earlier this year, it signed a contract with Samsung SDS to support the construction of AI computing infrastructure, which provides the high-performance computing power needed for AI development.
It also won a contract last month to supply software for NVIDIA Spectrum-X, a networking platform designed to enable AI servers to communicate more efficiently.
Founded in 2010, XIIlab develops AI software that analyzes video to identify people, objects and events. It also creates synthetic data for AI training and develops GPU-based software used in AI computing systems.
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