ALSET AI VENTURES INC - ALSCF STOCK NEWS

Alset AI Ventures has appointed Cole Stevens as Head of Corporate Development, effective November 1, 2024. Stevens, who will maintain his role as President of AllAccess Capital Markets, brings over a decade of experience in capital markets, corporate finance, business development, and communications. In his new position at Alset AI, Stevens will oversee corporate strategy development and execution, identify growth opportunities, and establish strategic partnerships to strengthen the company's position in the AI sector.

Alset AI Ventures has announced significant changes in its leadership and audit committee. Effective September 20, 2024, Morgan Good has resigned as CEO and Director, and Jeremy Hanson has resigned as Director. Zelong (Roger) He has been appointed as Interim CEO, and Jack Huang has joined as an independent Director. Mr. Huang will also chair the restructured audit committee, which now includes He and Leighton Bocking. The company has granted 4,250,000 stock options to directors and consultants, each exercisable at $0.06 per share, vesting immediately and expiring in three years.

Alset AI Ventures Inc. (TSXV:KSUM, OTC:ALSCF) has provided a corporate and operational update. Key highlights include:

1. Alset AI to receive CAD$3.7 million plus interest from portfolio company Cedarcross.

2. Cedarcross secures agreement to sell 13 Nvidia H100 HGX 8GPU servers to Ceti AI for CAD$5,828,665.

3. Cedarcross finalizes amended two-year AI compute leasing agreement with Infocube HK Company.

4. Alset AI amends secured loan agreement with Cedarcross, reducing interest rate from 15% to 7.5%.

5. Management changes include CFO resignation and planned appointment of a new CFO in September 2024.

6. Audit Committee composition changes with new appointments.

Alset Capital Inc. has announced a corporate name change to Alset AI Ventures Inc., effective August 23, 2024. The company's trading symbol on the TSX Venture Exchange will change to GPUS, while symbols on OTC Markets and Frankfurt Stock Exchange remain unchanged. This rebranding reflects Alset's intensified focus on the AI sector.

Concurrently, Alset has updated its Investment Policy to primarily target the technology industry, emphasizing artificial intelligence. The company aims to build a portfolio of emerging companies advancing full-stack AI solutions, including AI services, software, GPU hardware, and data centers. Alset will invest in both early-stage startups and established ventures, providing financial and strategic guidance.

Alset Capital announced that its investee company, Cedarcross, signed a contract with Ceti AI to distribute three Nvidia H100 GPU servers worth $1.37 million. The contract includes an option for Ceti AI to purchase an additional 200 servers for $91.7 million by September 30, 2024. Cedarcross has achieved approximately $29.7 million in revenue year-to-date from its high-performance computing (HPC) server distribution business, underlining its strong market positioning. The initial order's estimated gross margin is $176,000, potentially rising to $11.78 million if the full option is exercised. Cedarcross has received a 10% downpayment and the remaining payments are scheduled. The transaction supports Cedarcross's compute leasing business and highlights its strategic partnerships in the HPC market.

Alset Capital has provided an update on its corporate and operational activities. Key highlights include the formation of an AI Advisory Board featuring industry experts, and the completion of private placements totaling $7.6 million. Alset's stock is now listed on the Frankfurt Stock Exchange and the OTC Market in the U.S.

Cedarcross International Technologies, an Alset investee, secured a $3.7 million loan to purchase Nvidia servers. Cedarcross has entered a two-year AI computing leasing agreement, expected to generate $5.5 million in revenue. They also signed a $26 million distribution agreement for 64 Nvidia servers, bringing their year-to-date revenue to approximately $28 million.

Vertex AI Ventures announced a partnership with Nom Nom AI to enhance data engineering and automation services. Alset continues to seek accretive investments and business alliances in the AI sector.

Alset Capital announced the formation of an Artificial Intelligence Advisory Board, appointing Willy Sun and Michael Gord. The board aims to provide strategic guidance, expert insights, and oversight for Alset's AI initiatives. Willy Sun, with a background at Google, Panasonic, and Huawei, brings extensive experience in AI research and development. Michael Gord, a Web 3.0 pioneer, has a strong track record in digital asset ventures. The board will report to Alset's Board of Directors to ensure compliance, manage risks, and foster innovation.

Investorideas.com published a snapshot on AI technology's role in enhancing business efficiency and profitability. The AI market is predicted to grow at a CAGR of over 38% from 2023 to 2030, driven by new products and partnerships. Alset Capital, listed in March, reported significant progress through its investee Cedarcross International Technologies' $26 million Nvidia GPU server distribution deal, bringing cumulative revenue to $28 million in 2024. Alset's Vertex AI Ventures partnered with Nom Nom AI for AI data engineering, highlighting enhanced data security and analytics capabilities. Additionally, Cedarcross secured a two-year AI computing leasing agreement expected to generate CAD$5.5 million. Supermicro reported record Q3 revenue and forecasted further growth, while VERSES AI completed a $10 million private placement. Nvidia's upcoming earnings report could influence AI stock trends.

Alset Capital announced a significant partnership between its investee, Vertex AI Ventures, and Nom Nom AI. This strategic move aims to enhance data engineering, security, and automation. Vertex will leverage Nom Nom’s proprietary data management technology to offer better data quality, security, and infrastructure performance. The collaboration focuses on developing Large Language Models and other AI products, ensuring Vertex clients benefit from innovative data management tools. This partnership is seen as a major step in revolutionizing data engineering and AI optimization, driving efficiency and innovation.