Alset Capital Inc. Announces AI GPU Contract with $91.7M Option

Vancouver, BC – June 13, 2024 – Alset Capital Inc. (TSXV:KSUM) announces that its investee, Cedarcross International Technologies Inc., has signed a major contract with Ceti AI. This agreement involves the distribution of three Nvidia H100 HGX 8GPU servers, valued at $1.37 million, with an option for Ceti AI to acquire up to 200 more servers for a total of $91.7 million by September 30, 2024.

This contract is part of Cedarcross' strategy to expand its high-performance computing (HPC) server market share. Year-to-date, Cedarcross has achieved approximately $29.7 million in revenue solely from its HPC server distribution business. Cedarcross' Nvidia H100 GPU servers offer significant performance boosts for AI training.

The estimated gross margin for the initial purchase is around $176k, with potential to reach approximately $11.78 million if the additional 200 servers are ordered. A 10% downpayment for the initial delivery has been received, outlining the payment schedule for the remaining balance.

CEO Morgan Good of Alset expressed that this transaction underscores Cedarcross’ critical role in high-performance computing and augments their existing compute leasing operations, enhancing market reach and product diversity.