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Cloud Stock News Bite - Lytus Technologies (NASDAQ: LYT) Soars on News of Entering $326 Billion Data Center Market with Lytus Cloud Infrastructure Services

 

March 7, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com) Cloud Stock News Bite - Lytus Technologies Holdings PTV. Ltd. (the "Company") (Nasdaq:LYT), a leading global technology-driven services company, today announced the launch of Lytus Cloud, a cutting-edge suite of cloud infrastructure services with robust management capabilities. Leveraging the Company's in-house technological expertise and one of the most popular open-source cloud management platforms, Lytus Cloud is designed to meet the escalating demands of enterprise computing, tapping into the expansive US$325.9 billion global data center market (Statista).

The stock price exploded on news , trading at $13.77, gaining $11.45 or +495.89%, with a day's high of $15.93.

Lytus Cloud is strategically positioned to exploit the burgeoning demand for high-performance computing (HPC) infrastructure, fueled by advancements in deep tech such as natural language processing, large language models, and machine learning. The launch of Lytus Cloud signifies a pivotal moment for the Company, promising to deliver unparalleled flexibility, functionality, and value to enterprise clients across a spectrum of cloud services, including public cloud, private deployments, managed private clouds, Build-Operate-Transfer (BOT) Data Centers (DC), co-location, cloud consulting, and VPS and hosting services.

By offering a diverse array of cloud solutions, Lytus Technologies is set to provide a compelling alternative to traditional hyperscale cloud providers. This strategic move not only enhances Lytus Technologies' portfolio, which includes Lytus Digital, Broadband, Studios, and Tele-health, but also strengthens its commitment to delivering cutting-edge technology, exceptional customer service, and significant value to its clientele.

The introduction of Lytus Cloud is expected to catalyze growth across all Lytus Technologies' offerings, reducing cloud-related expenses and powering the deployment of state-of-the-art products and services.

Read the company's full news and disclaimer here:

https://finance.yahoo.com/news/lytus-technologies-enters-326-billion-213700111.html

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