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Program Expected to Enhance Financial Flexibility, Optimize Capital Structure, and Support Scaling of Lyken.AI platform and Commercial Pipeline
Strategic Partnership Aims to Boost Lyken.AI's PaaS Model with Integrated Power and AI-Optimized Hardware Solutions
Lyken.AI to introduce Differentiated PaaS offering to Meet Strong Demand for AI Infrastructure
Investors Invited to Submit Questions for Q&A with Executive Team
Strategic Milestone Aligns Alset with NVIDIA's Global AI Ecosystem
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Companies to Formalize Cloud Partnership as Alset AI Commits Initial Investment
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Strengthening AI Infrastructure Leadership Amidst Increasing Global Demand for High-Performance Computing
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News Release Highlights:
Strategic Acquisition of io.net (IO) Tokens: Alset AI has acquired 12,868 io.net (IO) tokens, gaining exposure to the world's largest decentralized AI computing network, supporting the democratization of access to high-performance computing infrastructure and graphic processing units (GPUs).
Diversification through Solana (SOL) Investment: As part of its forward-thinking strategy, Alset AI acquired 185.2 Solana (SOL) tokens, showcasing confidence in decentralized technologies and expanding its financial positioning into the growing crypto market.
The acquisitions of io.net and Solana tokens underscore Alset AI's commitment to advancing decentralized ecosystems and supporting scalable, cost-effective AI infrastructure solutions that support the democratization of technology.
News Release Highlights:
Alset AI is poised to receive CAD$3.7 million plus interest from its portfolio company, Cedarcross, in repayment of a secured loan, strengthening Alset's balance sheet and enhancing its capacity to pursue additional artificial intelligence investments.
Alset AI's portfolio company Cedarcross secures an agreement to sell thirteen (13) Nvidia H100 HGX 8GPU servers to Ceti AI for an aggregate purchase price of approximately CAD$5,828,665.
Alset AI's portfolio company, Cedarcross, finalizes an amended two-year AI compute leasing agreement.
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News Release Highlights:
- Alset investee Cedarcross signs Nvidia H100 GPU server contract for an initial three (3) servers (for a purchase price of $1.37 million), with the customer having an option to acquire an additional 200 servers (for a purchase price of $91.7 million) valid until September 30, 2024.
- Cedarcross achieves approx. $29.7 million cumulative revenue year to date with its high-performance computing ("HPC") server distribution business vertical alone.
- Nvidia's H100 GPU Servers are used in "Transformational AI Training", offering up to "7x higher performance for High Performance Computing applications."1
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
News Release Highlights:
- Alset investee, Cedarcross signs $26 million Nvidia H100 GPU server contract.
- Cedarcross achieves approx. $28 million cumulative revenue year to date with its high-performance computing ("HPC") server distribution business vertical alone.
- Nvidia's H100 GPU Servers are used in "Transformational AI Training", offering up to "7x higher performance for High Performance Computing applications."1
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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
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