SAI.TECH Global Corporation Warrant - SAITW STOCK NEWS

SAIHEAT (NASDAQ: SAIH, SAITW) has signed two Memorandums of Understanding (MoU) for its HEATNUC business line, aiming to strengthen cooperation within the small modular reactor industry in the Middle East and globally. The first MoU, signed with Jiangsu Shentong Nuclear Equipment Co., , focuses on exporting electrical and instrumentation control system equipment for nuclear power projects. The second MoU, with Shanghai Kaiquan Pump Co., , outlines plans for joint production of nuclear and Small Modular Reactor (SMR) equipment and components in the Middle East.

These partnerships aim to enhance SAIHEAT's competitiveness, promote localization strategies, and explore opportunities for expanding presence in the international market through joint venture export ventures. The collaborations encompass various aspects, including nuclear safety, quality management, and the production of specialized equipment for the nuclear power and energy sectors.

SAIHEAT (formerly SAI.TECH Global ) has announced a significant rebranding initiative, changing its name and Nasdaq trading symbol from 'SAI' to 'SAIH' effective September 11, 2024. This strategic move reflects the company's expanded focus on sustainable computing and heat recycling, particularly in the realm of artificial intelligence.

Key aspects of the rebranding include:

• A new website with updated visuals
• Expansion into advanced computing services and heat recycling solutions
• Introduction of small modular reactors for AI and computing power needs
• New product structure featuring A series (AI servers) and B series (BTC servers)

The rebranding aims to position SAIHEAT as a leader in energy-efficient infrastructures, leveraging advanced liquid-cooling and heat recycling technologies to enhance data center performance and sustainability.

SAI.TECH Global (NASDAQ: SAI, SAITW) has joined the World Nuclear Association (WNA) and will participate in the World Nuclear Symposium 2024 this September. CEO Arthur Lee and Nuclear Energy Strategy Consultant François Morin will present at the event, promoting best practices with HEATNUC Gen. III and Gen. IV small modular reactors.

This membership reflects SAI's commitment to advancing the nuclear industry through collaboration and innovation. As a WNA member, SAI will engage with a global network of industry leaders, experts, and governors dedicated to sustainable nuclear power development. The company aims to support the development of safe, efficient, and sustainable nuclear energy solutions through these engagements.

SAI.TECH Global (NASDAQ: SAI, SAITW) has signed a Memorandum of Understanding (MoU) with Idaho Competitive Aquatics, for the SAI US Idaho Node Project. This initiative will establish the next SAINODE in Idaho, integrating SAI's Advanced Computing Center Ecosystem (ACCE) to enhance heating efficiency in aquatic center operations.

The project aims to recycle computing waste heat to heat the aquatic center, replacing the current natural gas heater. SAI estimates this will reduce CO2 emissions by approximately 96,000 pounds per month and lower the center's heating expenses by more than 40% upon completion.

This partnership marks SAI's first computing heat recycling project for an aquatic center, representing a significant step in sustainable innovation for both the computing and aquatic center industries.

SAI.TECH Global (NASDAQ: SAI, SAITW) announced the results of its annual general meeting held virtually on August 13, 2024. All shareholder proposals were approved, including:

1. Election of Mr. Heung Ming Henry Wong as Class II Director and various committee positions
2. Election of Mr. Haotian Li as Class II Director and committee roles
3. Ratification of Mr. Tianshi Yang as Class III Director and committee positions
4. Approval of the Company's Third Amended and Restated Memorandum and Articles of Association
5. Appointment of Audit Alliance LLP as the independent registered public accounting firm for fiscal year 2024
6. Approval of the company name change to SAIHEAT

SAI.TECH Global (NASDAQ: SAI, SAITW) announced the adjournment of its Annual General Meeting (AGM) originally scheduled for August 6, 2024. The meeting has been postponed to Tuesday, August 13, 2024, at 9:00 a.m. Eastern Standard Time due to a lack of requisite quorum. The AGM will be held virtually at http://www.virtualshareholdermeeting.com/SAI2024.

The record date for the adjourned meeting remains July 19, 2024. Shareholders who have not yet voted are encouraged to do so on the proposals outlined in the Company's Notice of AGM and Form of Proxy dated July 23, 2024. Previously submitted proxies will remain valid unless properly revoked.

SAI.TECH Global (NASDAQ: SAI, SAITW) has announced its upcoming annual general meeting (AGM) scheduled for August 6, 2024, at 9:00 a.m. Eastern Standard Time. The meeting will be held virtually at http://www.virtualshareholdermeeting.com/SAI2024. Shareholders of record as of July 19, 2024, are eligible to attend and vote at the AGM.

The company has made the Notice of AGM and Form of Proxy available on its SEC EDGAR filing page. SAI.TECH's board of directors fully supports the proposals outlined in the Notice of AGM and recommends shareholders vote in favor of these proposals.

SAI.TECH Global (NASDAQ: SAI, SAITW) has announced a new share repurchase program authorized by its board of directors. The program allows the company to repurchase up to US$1 million and up to 1 million shares of its ordinary shares until January 11, 2025. Repurchases may be made through various means, including open market transactions, private negotiations, and block trades, subject to market conditions and applicable regulations. The timing and amount of repurchases will comply with SEC Rules 10b-18 and 10b-5. The board will periodically review the program and may adjust its terms and size.

SAI.TECH Global (NASDAQ: SAI, SAITW) has appointed François Morin as its Nuclear Energy Strategy Consultant. Mr. Morin will evaluate market opportunities for small modular reactors in Asia and globally. He is a renowned nuclear sector expert, currently serving as a Director at the World Nuclear Association and has held various significant roles in the nuclear industry, including at the French Atomic Energy Commission and Framatome. His extensive background includes research, project structuring, and international cooperation. In his new role, he will provide strategic advice, establish expert contacts, and enhance SAI.TECH's global presence. CEO Arthur Lee emphasizes that Mr. Morin's expertise will be pivotal in driving innovation and sustainability in the energy sector.