Singularity Future Technology Ltd. (SGLY) has entered into a non-binding strategic development framework agreement with Florence Development LLC for an approximately 900-acre industrial site in Florence, South Carolina, with preliminary plans to build large-scale artificial intelligence computing and high-performance computing infrastructure on the property.

The Nasdaq-listed company, which trades under the ticker SGLY and describes itself as a digital infrastructure and high-performance computing company, announced the agreement on August 20, 2026.

The framework establishes a basis for the two parties to evaluate and potentially pursue development of what the company describes as a large-scale U.S. platform for AI computing, hyperscale data center, and high-performance computing infrastructure.

What the Framework Agreement Does and Does Not Commit

SGLY was explicit in its announcement that the framework agreement is largely non-binding and does not obligate either party to consummate any transaction.

The agreement contains certain binding provisions covering exclusivity, confidentiality, publicity, representations, expenses, term, remedies, and governing law.

All other provisions, including those relating to the substance of the contemplated development, remain non-binding.

Any definitive transaction would be subject to satisfactory due diligence, utility confirmation, financing availability, governmental and corporate approvals, and the negotiation and execution of definitive agreements.

The company stated plainly that there can be no assurance that a definitive agreement will be reached or that the contemplated project will be completed on the terms, timetable or scale currently contemplated, or at all.

Power Capacity and Expansion Pathway

Based solely on preliminary information provided by Florence Development LLC, and subject to further verification and utility confirmation, approximately 25 megawatts of existing or near-term grid capacity has been identified in connection with the site.

SGLY and its counterparty also intend to explore a utility expansion pathway that could potentially increase total grid capacity to approximately 99 megawatts within an anticipated 24-month period.

The company was careful to note that no such expansion is guaranteed under the framework agreement. Any capacity increase would be subject to utility studies, interconnection approvals, construction, regulatory approvals, and other conditions, any of which could result in delays, increased costs, or an inability to achieve the targeted capacity.

The 25-megawatt figure itself remains subject to utility confirmation and has not been independently verified by the company beyond the preliminary information supplied by the counterparty.

Site Scale and Phased Development Concept

The approximately 900-acre site is described as an industrial property in Florence, South Carolina. The current concept contemplates using only a portion of the property for an initial phase of development, with the majority of the acreage preserved for potential future expansion.

If successfully developed, the broader campus could potentially support additional AI computing clusters, data center capacity, energy storage, and related infrastructure across multiple phases, according to the company's announcement.

SGLY acknowledged that there can be no assurance that development beyond an initial phase, if any, will occur.

The company did not specify what acreage would be used for the initial phase or provide a cost estimate for any stage of development.

Strategic Rationale

SGLY framed the potential development around what it described as increasingly important considerations for new AI and high-performance computing infrastructure: power availability and development-ready land.

The company stated its belief that the combination of site scale and potential power expansion, if confirmed, could provide a foundation for pursuing demand from AI model training, cloud computing, enterprise high-performance computing, and computing-capacity services.

The company added that there can be no assurance that such demand will materialize or that it will be able to capture any such demand.

The South Carolina project, if consummated, would form part of SGLY's broader effort to expand its business platform beyond its existing operations.

The company said it is actively evaluating opportunities in data center development, AI computing infrastructure and high-performance computing, and that it believes combining its public-company platform with large-scale infrastructure development opportunities may provide a foundation for long-term business expansion and diversification.

Next Steps Under the Framework

Under the framework agreement, the parties expect to advance site planning, technical design, governmental permitting, utility and grid interconnection work, project structuring, and potential ecosystem development, subject to the terms and conditions of any definitive agreements that may eventually be reached.

SGLY stated that it intends to evaluate the project through the next stages of diligence and development in what it described as a disciplined manner, while assessing financing structures and commercial opportunities.

The company provided no timeline for when definitive agreements might be reached or when it expects to complete due diligence. It also did not name any potential customers, financing partners, or construction contractors in connection with the project.

No details were provided about SGLY's current financial capacity to fund infrastructure development of the scale being contemplated. The announcement was made by the company from New York, New York, where SGLY is headquartered.