Breaking AI Stock News:
Alset Capital Inc. (TSXV: $KSUM.V) (OTC: $ALSCF) Announces Strategic Partnership with AI Data Engineering and
Automation Pioneer, NOM NOM AI Inc. by Investee Company Vertex AI Ventures Inc;
@AlsetAI
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VANCOUVER, BC - May 21, 2024
(Investorideas.com Newswire) Alset Capital Inc. (TSXV:KSUM) (FSE:1R60, WKN:A3ESVQ)
("Alset" or the "Company") is pleased to announce that on
May 20, 2024, its investee company, Vertex AI Ventures Inc.
("Vertex") has entered into a strategic AI data engineering and
automation partnership with Nom Nom AI Inc. ("Nom Nom") in accordance
with the terms of a Master Services Agreement between Vertex and Nom Nom (the
"Master Services Agreement").
This
news is 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/05212KSUM-Strategic-Partnership-NOM-NOM-AI.asp
The design and development of Large
Language Models ("LLMs"), and other AI products, requires the
processing of massive amounts of data. ChatGPT-4, as an example, had 1.76
trillion parameters1. Vertex, led by Niko Kontogiannis, seeks to
offer Data Management tools to companies, to improve their customers' business
intelligence and ability to innovate.
"This
partnership marks a significant milestone for Vertex as we seek to drive
innovation in managed data services and AI." said Niko Kontogiannis,
Director of Vertex. "Nom Nom's expertise perfectly complements our
offerings seamlessly, enabling us to deliver exceptional value to clients. By
integrating Nom Nom's patent pending data management technology, we are
uniquely positioned to cultivate long-term client relationships by enhancing
data quality, security and infrastructure performance."
"Our
collaboration with Vertex represents a significant step forward in our mission
to revolutionize data engineering, security, automation and AI
optimization", said Nam Nguyen CEO of Nom Nom. "By leveraging Nom
Nom's proprietary data solutions, Vertex is poised to deliver unparalleled
value to businesses, driving innovation and efficiency in today's data-driven
world."
Nom
Nom is a pioneer in data engineering, security, and automation as a service.
Their knowledge and expertise provides innovative solutions that leverage
artificial intelligence to streamline operations, reduce operational and
capital expenses, and ensure businesses maintain a competitive edge in today's
data-rich environment. With data volumes reaching unprecedented levels, the
demand for sophisticated analytics and scalable solutions has never been more
urgent. Nom Nom's expertise in managing, integrating, and automating vast
datasets positions them as a cornerstone in the evolving landscape of data
management and artificial intelligence. Nom Nom seamlessly integrates hardware
with their software capabilities, granting clients comprehensive access to data
insights through their user-friendly interface. Vertex clients will also gain
an intuitive interface that enhances their understanding of data.
The
partnership between Vertex and Nom Nom is expected to bring forth a myriad of
benefits for future clients, including enhanced data observability, insights,
optimization of machine performance, and real-time analytics for clients,
particularly those utilizing Alset's portfolio companies' AI computing
infrastructure. Nom Nom's specialty in data retention and disposition policies
ensures data security and compliance, addressing crucial concerns in today's
digital age.
The
collaboration between Vertex and Nom Nom underscores the transformative power
of AI in reshaping industries and driving efficiency. As organizations
increasingly turn to automation and AI technologies to eliminate human error
and streamline operations, data security remains paramount. This partnership
addresses these critical needs, empowering businesses to operate with
confidence in a secure and compliant digital environment. Nom Nom will provide
a user interface for Vertex's clients, the technology will allow Vertex to
optimize its energy consumption and minimize costs. Vertex's future clients
will have real-time insights on how much power is being utilized and when. Nom
Nom's innovative technology provides detailed analytics and insights to
optimize energy, costs, and performance.
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
Vertex AI Ventures Inc.
Vertex
is at the forefront of intellectual property (IP) identification and
acquisition, as well as providing AI data management services. The company's
mission is to discover and acquire innovative AI intellectual property from
early-stage ventures, fueling advancements in artificial intelligence. In the
realm of data management, Vertex aims to excel in delivering premier services
that harness the power of AI to streamline operations, minimize costs, and
secure a competitive edge in the increasingly data-driven world.
The
comprehensive suite of services offered by Vertex ensures superior data quality
and security, offering advanced observability insights, machine performance
optimization, and real-time analytics tailored to AI computing infrastructures.
Specializing in data retention and disposition solutions, Vertex addresses
critical issues of data security and compliance, setting the standard for
safeguarding the integrity and privacy of digital information in today's
complex digital landscape.
About
Nom Nom AI Inc.
Nom
Nom is a pioneer in data engineering & automation as a service. Our
knowledge and expertise delivers the best outcomes with artificial
intelligence. Our solutions reduce OpEx/CapEx, streamline operations, and
ensure a competitive edge. In today's digital landscape, generating an
unprecedented volume of data, businesses are in dire need of sophisticated,
real-time analytics and adaptable, scalable solutions. Nom Nom emerges as a
leader in revolutionizing data management, thanks to our innovative
cutting-edge approach. We address the complex challenge of managing,
integrating, and automating vast volumes of data for businesses, offering
services designed to simplify complex data ecosystems. This crucial shift and
urgent need for advanced data management, makes Nom Nom a key partner in the
data-driven world and artificial intelligence.
For
further information about Alset Capital Inc., please contact:
Morgan
Good, CEO and Director
T: 604.715.4751
E: morgan@alsetai.com
Forward-Looking
Statement Cautions
Certain
statements in this press release may contain forward-looking information
(within the meaning of Canadian securities legislation), including, without
limitation, the perceived benefits of the Master Services Agreement amongst
Vertex and Nom Nom, the demand and growth of the AI industry, and the
consummation of the transactions contemplated by the Master Services Agreement
. 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.
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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