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Thursday, June 13, 2024
Breaking AI Stock News: Alset Capital Inc. (TSXV: $KSUM.V) (OTC: $ALSCF) Announces AI GPU Contract with a $91.7M Option Signed by Investee Company Cedarcross; @AlsetAI
Breaking AI Stock News: Alset Capital Inc. (TSXV: $KSUM.V) (OTC: $ALSCF) Announces AI GPU Contract with a
$91.7M Option Signed by Investee Company Cedarcross; @AlsetAI
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 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
VANCOUVER, BC, June 13, 2024 (Investorideas.com
Newswire) Alset Capital Inc. (TSXV:KSUM) (OTC:
ALSCF) (FSE:1R60, WKN:A3ESVQ) ("Alset"
or the "Company") is pleased to announce that its investee company,
Cedarcross International Technologies Inc. ("Cedarcross"), has signed
an agreement with an arm's length counterparty, Big Energy Investments Inc.,
DBA Ceti AI ("Ceti AI") to distribute three (3) Nvidia H100 HGX 8GPU
servers, which is anticipated to generate $1.37 million in revenue for
Cedarcross, with an option for the counterparty to acquire up to 200 H100 HGX
8GPU servers, which if exercised would generate $91.7 million in revenue (the
"Transaction").
Following
Cedarcross' two previously announced distribution agreements announced on April
22, 2024 and May 16, 2024, this agreement marks an important advancement in
Cedarcross' distribution business within the high-performance computing (HPC)
server market. Cedarcross has now secured cumulative revenue year to date of
approximately $29.7 million through its HPC server distribution business
vertical alone. These distribution agreements underscore the significant demand
and strategic market positioning of Cedarcross in the HPC landscape.
This
news is a paid advertisement/ news disseminated on behalf of/issued on behalf
of Alset Capital Inc.
Read this news,
featuring KSUM in full at https://www.investorideas.com/news/2024/technology/06131KSUM-AI-GPU-Contract.asp
"This
transaction represents another significant milestone for Cedarcross" said
Morgan Good, CEO of Alset. "It highlights their strong partnerships, which
provide access to high-performance computing Nvidia GPU servers for both
in-house use and third parties. Additionally, this distribution vertical
enhances their existing compute leasing business unit, fostering diversity in
their offerings and deeper market penetration."
The
estimated gross margin from the initial $1.37 million purchase order is
approximately $176k, and the estimated gross margin assuming all 200 H100 HGX
8GPU servers are purchased is approximately $11,782,000.
As
of this announcement, the Company has been informed that Cedarcross has
received a 10% downpayment for the initial $1.37 million purchase. The payment
schedule is as follows:
$413,055
due within fourteen (14) days of June 4th, 2024
$275,370
due when the servers are ready to ship
$275,370
due upon receipt of the servers by Ceti AI
$275,370
due seven (7) days after Ceti AI receives and accepts the servers
The
sale of up to 200 servers to Ceti AI is subject to Ceti AI obtaining approval
from the Original Equipment Manufacturer (OEM) compliance.
All
amounts in Canadian Dollars unless otherwise specified. These figures are
converted from US dollars at an exchange rate of 1.37 (USD to CAD).
(1)
Nvidia.com
On
behalf of Alset Capital Inc.
"Morgan
Good"
Morgan
Good
Chief
Executive Officer
About Alset Capital Inc.
Alset
Capital Inc. is an investment issuer that is focused on investment in
diversified industries such as technology, healthcare, industrial, special
situations, operating businesses through both debt and equity using cash
resources or shares in its capital. The Company is led by an experienced,
entrepreneurial group of executives having a diverse industry and capital
markets background.
Alset
Capital Inc.'s investment portfolio comprises 49% ownership of Cedarcross
International Technologies Inc. and 49% ownership of Vertex AI Ventures Inc.
About Cedarcross International
Technologies Inc.
Cedarcross
Technologies is an Artificial Intelligence cloud computing provider, with a
vision of becoming one of Canada's largest AI compute providers. The Company is
dedicated to democratizing access to cutting-edge AI computing, offering access
to the world's fastest AI servers powered by Nvidia's H100 HGX 8GPU Servers.
Focused on leasing compute resources to enterprise clients, Cedarcross Technologies
anticipates significant revenue growth.
For further information about Alset
Capital Inc., please contact:
Morgan
Good, CEO and Director
T:
604.715.4751
Cautionary Note regarding Forward
Looking Statements
Certain
statements in this press release may contain forward-looking information
(within the meaning of Canadian securities legislation), including, without
limitation, the consummation of the transactions contemplated by the
distribution and option agreement, the closing of the Transaction as
contemplated or at all, approval from OEM Compliance in the event the option to
acquire the additional 200 Nvidia H100 HGX 8GPU servers is exercised, the
Nvidia H100 HGX 8GPU servers' revenue generation, and the growth of the global
cloud AI market. These statements address future events and conditions and, as
such, involve known and unknown risks, uncertainties, and other factors, which
may cause the actual results, performance, or achievements to be materially
different from any future results, performance, or achievements expressed or
implied by the statements. Forward-looking statements speak only as of the date
those statements are made. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking
statements. Factors that could cause the actual results to differ materially
from those in forward-looking statements include regulatory actions, market
prices, and continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking
statements. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made.
Except as required by applicable law, the Company assumes no obligation to
update or to publicly announce the results of any change to any forward-looking
statement contained or incorporated by reference herein to reflect actual results,
future events or developments, changes in assumptions, or changes in other
factors affecting the forward-looking statements. If the Company updates any
forward-looking statement(s), no inference should be drawn that it will make
additional updates with respect to those or other forward-looking statements.
Cautionary Note Regarding Future
Oriented Financial Information
This
news release also contains future-oriented financial information and financial
outlook (collectively, "FOFI") about the Cedarcross' forecasted
revenues from the sale of the three Nvidia H100 HGX 8GPU servers and the option
it has granted for the sale of an additional 200 Nvidia H100 HGX 8GPU servers
and the receipt of OEM's approval if the option to acquire the additional 200 Nvidia
H100 HGX 8GPU servers is exercised, which is subject to the same assumptions,
risk factors, limitations, and qualifications as set forth in the above
paragraphs. FOFI contained in this news release was made by management as of
the date of this news release and was provided for the purpose of providing
readers with an understanding of the importance of such sale and option to
Cedarcross' business, and are not an estimate of profitability or any other
measure of financial performance. Readers are cautioned that the FOFI contained
in this news release should not be used for purposes other than for which it is
disclosed herein. The Company disclaims any intention or obligation to update
or revise any FOFI contained in this News Release, whether as a result of new
information, future events or otherwise, unless required pursuant to applicable
law. FOFI contained in this news release should not be used for purposes other
than for which it is disclosed herein.
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE:
Alset Capital Inc.
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specific questions. Disclosure: Alset Capital Inc. is a paid featured AI stock
on Investorideas.com effective April 20, 2024, More info https://www.investorideas.com/About/News/Clientspecifics.asp
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Wednesday, June 12, 2024
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Friday, June 7, 2024
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June 7, 2024 – (Investorideas.com Newswire) Investorideas.com, a global news source and expert investing resource, announces today’s roundup of stocks – all recent IPO’s.
Read this in full at: https://www.investorideas.com/news/2024/main/06071Stocks.asp
The newest companies entering the Nasdaq markets are involved in digital media, home décor and maintenance services, personal care electronic products and a Chinese cuisine restaurant brand.
The latest Canadian listed IPOs are both mining companies.
Investor Ideas is always researching and searching for new stocks to add to our growing list of free stock directories. The directories are not meant as recommendations but as a research tool to discover opportunities and trading ideas in a particular sector.”
New Stocks Added to the Tech Directories:
Ibotta, Inc. (NYSE:IBTA) is a leading performance marketing platform allowing brands to deliver digital promotions to over 200 million consumers through a network of publishers called the Ibotta Performance Network (IPN). The IPN allows marketers to influence what people buy, and where and how often they shop – all while paying only when their campaigns directly result in a sale. American shoppers have earned over $1.8 billion through the IPN since 2012. The largest tech IPO in history to come out of Colorado, Ibotta is headquartered in Denver, and is continually listed as a top place to work by The Denver Post and Inc. Magazine.
New Stocks Added to the Homebuilder Directories:
Junee Ltd (Nasdaq:JUNE) and its wholly-owned subsidiary, OPS Interior Design Consultant Limited ("OPS HK"), provides quality interior design, fit-out and maintenance services to both residential and commercial clients in the Hong Kong interior design market. The interior design service involves preliminary consulting services, conceptualizing clients' design ideas with layout plans, and producing detailed design drawings. Fit-out work generally includes any activities making an interior space suitable for residential or commercial purposes. OPS HK also provides a broad range of repair and maintenance services, including routine home condition upkeep services. OPS HK won the Muse Design Award in 2020, and was the given Most Valuable Companies in Hong Kong Award 2020 by Mediazone.
New Stocks Added to the Retail Directories:
Raytech Holding Ltd (Nasdaq:RAY) is a Hong Kong-headquartered company with over 10 years of experience in the personal care electrical appliance industry. Through its operating subsidiary in Hong Kong, it sources and wholesales a diverse range of personal care electrical appliances ranging from hair styling, tooling, trimmer, eyelash curler, neck care, to nail care and other body and facial care appliances for international brand owners, providing integrated product design, production processing, and manufacturing solutions.
New Stocks Added to the Food & Beverage Directories:
SUPER HI INTERNATIONAL HOLDING LTD. (Nasdaq:HDL) is a leading Chinese cuisine restaurant brand, operating Haidilao hot pot restaurant in the international market. With roots in Sichuan from 1994, Haidilao has become one of the most popular and largest Chinese cuisine brands in the world. With almost 30 years of brand history, Haidilao is well-loved by guests for its unique dining experience — warm and attentive service, great ambiance and delicious food, standing out among global restaurant chains, which has made Haidilao restaurants into a worldwide cultural phenomenon. As of March 31, 2024, Super Hi had 119 self-operated restaurants in 13 countries across four continents, making it the largest Chinese cuisine restaurant brand in terms of number of countries covered by self-operated restaurants.
New Stocks Added to the Mining Directories:
Oracle Commodity Holding Corp. (TSXV:ORCL) is a mining royalty company, a spin out from Silver Elephant Mining Corp. in 2022. Oracle's business is acquiring royalties on silver and critical minerals mining projects.
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Wednesday, June 5, 2024
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