Alset AI Acquires Majority Ownership of Artificial Intelligence Cloud Computing Company, Cedarcross Technologies
Alset AI Ventures has announced the acquisition of an additional 26% stake in Cedarcross Technologies, bringing its total ownership to approximately 75%. The deal, valued at $1.7M, involves issuing 22.7M shares at $0.075 per share.
Cedarcross Technologies operates through two main verticals: AI HPC Leasing, providing SMEs with access to Nvidia GPU-powered computing infrastructure, and AI HPC Hardware Distribution through partnership with Earthmade Computer Corp., an authorized Super Micro distributor.
The company has strategic partnerships with Earthmade for HPC server supply and Ceti AI, which has an option to purchase up to 200 servers. The acquisition is expected to close around December 16, 2024, subject to TSXV approval.
Alset AI Ventures ha annunciato l'acquisizione di un ulteriore 26% di partecipazione in Cedarcross Technologies, portando la sua proprietà totale a circa il 75%. L'affare, valutato 1,7 milioni di dollari, prevede l'emissione di 22,7 milioni di azioni a 0,075 dollari per azione.
Cedarcross Technologies opera attraverso due principali verticali: AI HPC Leasing, che fornisce alle PMI accesso a infrastrutture di calcolo potenziate da GPU Nvidia, e AI HPC Hardware Distribution attraverso una partnership con Earthmade Computer Corp., un distributore autorizzato di Super Micro.
L'azienda ha partnership strategiche con Earthmade per la fornitura di server HPC e con Ceti AI, che ha un'opzione per acquistare fino a 200 server. Si prevede che l'acquisizione si chiuda intorno al 16 dicembre 2024, soggetta all'approvazione del TSXV.
Alset AI Ventures ha anunciado la adquisición de una participación adicional del 26% en Cedarcross Technologies, llevando su propiedad total a aproximadamente el 75%. El acuerdo, valorado en 1,7 millones de dólares, implica la emisión de 22,7 millones de acciones a 0,075 dólares por acción.
Cedarcross Technologies opera a través de dos sectores principales: AI HPC Leasing, que proporciona a las pymes acceso a infraestructura de computación con GPUs de Nvidia, y AI HPC Hardware Distribution a través de una asociación con Earthmade Computer Corp., un distribuidor autorizado de Super Micro.
La empresa tiene asociaciones estratégicas con Earthmade para el suministro de servidores HPC y con Ceti AI, que tiene una opción para comprar hasta 200 servidores. Se espera que la adquisición se cierre alrededor del 16 de diciembre de 2024, sujeta a la aprobación del TSXV.
알셋 AI 벤처스는 세다크로스 테크놀로지스의 26% 추가 지분을 인수한다고 발표했으며, 총 소유 지분은 약 75%에 이릅니다. 이 거래는 170만 달러로 평가되며, 주당 0.075달러로 2270만 주가 발행됩니다.
세다크로스 테크놀로지스는 두 가지 주요 분야에서 운영됩니다: AI HPC 리스팅, 이는 중소기업에 Nvidia GPU 기반의 컴퓨팅 인프라에 대한 접근을 제공하며, AI HPC 하드웨어 유통은 인증된 Super Micro 유통업체인 Earthmade Computer Corp. 와의 파트너십을 통해 이루어집니다.
회사는 HPC 서버 공급을 위한 Earthmade 및 최대 200대의 서버를 구매할 수 있는 옵션을 가진 Ceti AI와 전략적 파트너십을 맺고 있습니다. 인수는 TSXV의 승인을 조건으로 2024년 12월 16일경에 마감될 예정입니다.
Alset AI Ventures a annoncé l'acquisition d'une participation supplémentaire de 26% dans Cedarcross Technologies, portant sa propriété totale à environ 75%. L'accord, évalué à 1,7 million de dollars, implique l'émission de 22,7 millions d'actions au prix de 0,075 dollar par action.
Cedarcross Technologies opère à travers deux grands secteurs : AI HPC Leasing, qui fournit aux PME un accès à une infrastructure informatique alimentée par des GPU Nvidia, et AI HPC Hardware Distribution en partenariat avec Earthmade Computer Corp., un distributeur agréé de Super Micro.
L'entreprise a des partenariats stratégiques avec Earthmade pour la fourniture de serveurs HPC et avec Ceti AI, qui a la possibilité d'acheter jusqu'à 200 serveurs. L'acquisition devrait se finaliser aux alentours du 16 décembre 2024, sous réserve de l'approbation de la TSXV.
Alset AI Ventures hat die Akquisition eines zusätzlichen 26% Anteils an Cedarcross Technologies angekündigt, wodurch sich der Gesamtanteil auf etwa 75% erhöht. Der Deal, der mit 1,7 Millionen Dollar bewertet wird, umfasst die Ausgabe von 22,7 Millionen Aktien zu einem Preis von 0,075 Dollar pro Aktie.
Cedarcross Technologies ist in zwei Hauptbereichen tätig: AI HPC Leasing, welches kleinen und mittleren Unternehmen Zugang zu Nvidia GPU-gestützter Recheninfrastruktur bietet, sowie AI HPC Hardware Distribution in Zusammenarbeit mit Earthmade Computer Corp., einem autorisierten Super Micro Distributor.
Das Unternehmen hat strategische Partnerschaften mit Earthmade für die Lieferung von HPC-Servern und mit Ceti AI, die die Option hat, bis zu 200 Server zu kaufen. Die Akquisition soll voraussichtlich rund um den 16. Dezember 2024 abgeschlossen werden, vorbehaltlich der Genehmigung durch die TSXV.
- Acquisition increases ownership to 75% in Cedarcross Technologies, strengthening control over AI infrastructure business
- Dual revenue streams through AI HPC leasing and hardware distribution
- Strategic partnership with Super Micro's authorized distributor ensures reliable supply chain
- Existing server purchase agreement with Ceti AI for up to 200 servers
- Share dilution through issuance of 22.7M new shares
- Significant investment of $1.7M in an emerging company with unproven market position
VANCOUVER, BC / ACCESSWIRE / December 10, 2024 / Alset AI Ventures Inc.(TSXV:GPUS)(OTC:ALSCF)(FSE:1R60, WKN:A3ESVQ)("Alset AI" or the "Company") an artificial intelligence (AI) venture company advancing innovation through strategic investment and cloud computing solutions, announces it has entered into share exchange agreements dated December 8 2024 (collectively, the "Agreements"), to acquire an aggregate26% stake in Cedarcross International Technologies Inc. ("Cedarcross Technologies"), a private British Columbia corporation. Upon closing, Alset AI will hold an approximately
Cedarcross Technologies: An Emerging Leader in Artificial Intelligence High-Performance Computing
Cedarcross Technologies is addressing a critical challenge in the AI industry: providing accessible, AI high-performance computing ("HPC"). The company operates through two core business verticals:
AI HPC Leasing: Cedarcross Technologies provides small to medium enterprises (SMEs) with access to advanced AI HPC infrastructure powered by Nvidia graphics processing units (GPUs), enabling training and deployment of AI workloads. This AI HPC leasing model offers an affordable, scalable alternative to direct hardware purchases, making AI HPC accessible to a wider range of organizations.
AI HPC Hardware Distribution: Cedarcross Technologies partners with Earthmade Computer Corp. ("Earthmade"), an authorized distributor of Super Micro Computer, Inc. ("Super Micro"), to deliver advanced AI GPU servers and HPC solutions tailored to the evolving demands of AI and machine learning businesses. This strategic partnership positions Cedarcross Technologies as an emerging player in the AI ecosystem, unlocking diverse revenue streams and strengthening its market presence.
Strategic Partnerships Driving Growth
Cedarcross Technologies has cultivated key relationships to scale its operations and expand market reach:
Earthmade: As a supply partner, Earthmade, facilitates Cedarcross Technologies' access to HPC servers including Nvidia GPU servers. This partnership ensures a reliable supply chain for AI HPC infrastructure, enhancing Cedarcross Technologies' capacity to meet growing client demand.
Ceti AI: Cedarcross Technologies has collaborated with decentralized AI company, Big Energy Investments Inc. dba Ceti AI ("Ceti AI") under multiple AI HPC server distribution agreements. Ceti AI acquires Nvidia GPU servers from Cedarcross Technologies and holds an option to purchase up to 200 servers, part of which has already been exercised, as disclosed in the Company's August 28, 2024, news release. This partnership underscores the high-value solutions Cedarcross Technologies delivers to its clients.
Positioned for Market Leadership
Cedarcross Technologies' dual-vertical business model combines AI HPC Leasing with AI HPC Hardware Distribution, positioning it as an emerging player in the rapidly evolving AI sector. By leveraging relationships with industry leaders and diversifying its offerings, the Company believes Cedarcross Technologies is primed to meet the growing demand for AI technologies, shaping the future of scalable computing infrastructure.
Strategic AI GPU Investment to Accelerate Growth
Alset AI's increased investment in Cedarcross Technologies aligns with its focus on advancing businesses that address foundational needs in the technology sector. Cedarcross Technologies is positioned for growth, and with Alset AI's resources, Cedarcross Technologies aims to strengthen its foothold in the global AI HPC market.
Management Commentary
"Our increased investment in Cedarcross Technologies underscores our commitment to building Alset AI's core focus around AI computing infrastructure, a foundational element of the AI economy," said Adam Ingrao, CEO of Alset AI. "Cedarcross Technologies is now central to our strategy, combining AI HPC leasing with AI HPC hardware distribution to meet the increasing demand for scalable infrastructure in the AI ecosystem.
This acquisition enhances our ability to accelerate growth with a focus on pursuing positive free cash flow, paving the way for strategic investments in organic growth initiatives and targeted acquisitions. By aligning with industry leaders like Earthmade and Super Micro, Cedarcross Technologies is uniquely positioned to become a market leader in AI computing infrastructure. We are excited about the opportunities ahead and confident this investment will drive significant shareholder value while reinforcing Alset AI's leadership in the rapidly evolving AI sector."
Terms of the Acquisition
Pursuant to the Agreements, Alset AI has agreed to issue 22,763,664 common shares in the capital of the Company (each, a "Consideration Share") to certain non-management shareholders of Cedarcross Technologies in exchange for approximately an additional
Closing of the acquisition is anticipated to be on or about December 16, 2024 in accordance with the policies of the TSX Venture Exchange (TSXV).
On behalf of Alset AI Ventures Inc.
"Adam Ingrao"
Adam Ingrao
Chief Executive Officer
About Alset AI Ventures Inc.
Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high-potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.
About Cedarcross 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 advanced AI high-performance computing, offering access to the world's fastest AI servers.
For further information about Alset AI Ventures Inc., please contact:
Adam Ingrao, Chief Executive Officer
T: 778.223.8853
E: ir@alsetai.com
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.
Certain statements in this press release contain forward-looking information within the meaning of applicable Canadian securities legislation. Forward-looking statements are often identifiable by the use of words such as "anticipates," "expects," "believes," "intends," "plans," "forecasts," "may," "will," "could," "should," or similar expressions. These statements are based on the Company's current expectations, estimates, and assumptions regarding future events and conditions, including, but not limited to: the anticipated closing of the acquisition of Cedarcross Technologies shares; Cedarcross Technologies' ability to scale its AI high-performance computing (HPC) leasing and hardware distribution operations; Cedarcross Technologies' potential to achieve positive free cash flow; the strategic benefits of the acquisition to Alset AI's business model and market position; and the expected timing of closing the acquisition. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Factors that could cause actual results to differ materially include, but are not limited to: changes in the Company's financial or strategic priorities; the availability of suitable investment opportunities; Cedarcross Technologies' ability to scale operations, execute its business plans, and sustain positive cash flow; market demand for AI and cloud computing technologies; the ability to maintain key partnerships and supply chain relationships; regulatory approvals; economic and market conditions; and other risks detailed in the Company's filings with Canadian securities regulators. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statements to reflect new information, future events, or otherwise, except as required by law. Investors are cautioned not to place undue reliance on forward-looking statements, as actual results may differ materially from those expressed or implied herein.
SOURCE: Alset AI Ventures Inc.
View the original press release on accesswire.com
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