Hong Kong-listed Virtual Mind Holding Company Limited has entered into an investment cooperation agreement with Gauss Technology (HK) Limited to establish a joint venture focused on artificial intelligence (AI) and continuous learning.
Under the agreement signed on Aug. 28, Virtual Mind and Gauss Technology intend to establish a limited liability company in Hong Kong to expand their business in those fields.
Virtual Mind will hold a 51% equity interest in the joint venture, while Gauss Technology will own the remaining 49%.
The business will be based on existing intellectual property content and real-world operational scenarios and will implement an AI application-layer strategy into user-facing products.
The joint venture will provide users and IP creators with AI system software services through platform-as-a-service, software-as-a-service, and other means to build business scenarios quickly, Virtual Mind said.
The company has been seeking to expand its existing business and explore the application of AI and related technologies to IP content operation and related businesses.
It described the joint venture as the first step in implementing its AI application-layer strategy into user-facing products, building upon its existing IP digital ecosystem business.
The joint venture plans to focus on continuously learning intelligent agents.
Following its registration, it plans to launch research findings on fundamental capabilities including persistent memory, tool execution, and verifiable operational basis for trial implementation.
Virtual Mind said it and Gauss Technology will register the joint venture as soon as possible. The announcement did not disclose the amount that either party would invest in the venture or provide further financial terms of the cooperation.
Virtual Mind said the venture would allow the group to further expand its business operations in the field of AI technology applications within the IP sector and generate returns for its shareholders.
The company said the cooperation was consistent with its development strategy and was in the interests of the company and its shareholders as a whole.
The planned venture builds on Virtual Mind’s existing IP digital ecosystem and real-world operational scenarios.
Its research will initially cover capabilities such as persistent memory, tool execution and a verifiable operational basis, with the findings expected to be put into trial implementation after the joint venture completes its registration.
Gauss Technology is 98% owned by Wen Rong, according to Virtual Mind’s filing.