Thursday, April 25, 2024
11:26 AM EST – Alset Capital Inc. : Announced that its 49% owned investee company, Cedarcross International Technologies Inc., has entered into a two-year AI Computing leasing agreement, with an arm’s length counterparty. The Agreement is expected to generate approximately CAD$5.5 million in total revenue, with aggregate gross margin of approximately CAD$4.4 million over the contract’s duration. Under the terms of the Agreement, Cedarcross Technologies will provide approximately 700,000 compute hours annually, totaling 1.4 million AI compute hours over the contract’s duration. This agreement, with an esteemed arm’s length third-party enterprise client, underscores Cedarcross Technologies growing influence and capabilities in the realm of AI infrastructure. The Agreement outlines a structured monthly payment plan, with Cedarcross Technologies expecting to receive approximately CAD$223k monthly. Alset Capital Inc. (V.KSUM) shares were off 2 cents at 0.36.
Stocks in Play: Alset Capital Inc., Thu, 25 Apr 2024 11:42:05 EST