AIB Advances CLT1 Delivery With Funded Prepayment and Executed Equipment Orders

Equipment orders are executed, while projected portfolio operating income depends on project completion and actual operating results.

Rhea-AI Summary

AIB Data Centers (NYSE American: AIB) has received its first draw after prepayment obligations were funded into escrow for its CLT1 campus. Executed equipment purchase orders cover backup generators, uninterruptible power supply systems and switchgear, with delivery scheduled to support construction. AIB expects CLT1 to deliver 50 MW of critical IT capacity under an executed 12-year agreement.

Across all contracted sites, AIB projects approximately $90.5 million in annual stabilized net operating income, a non-GAAP property-level measure based on Year 5 of executed customer agreements. This is not current earnings or cash available to common shareholders; realization depends on project completion and actual operations. Estimated total development cost is approximately $760–$780 million, including land, and remains subject to scope, procurement, financing and timing changes.

4 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

1 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Contracted sites are projected to generate approximately $90.5 million annual stabilized net operating income, based on agreement Year 5.
• Moderate pointCLT1 prepayment obligations were funded into escrow, and AIB received its first draw.
• Moderate pointEquipment purchase orders are executed, with delivery scheduled to support the construction timeline.
• Moderate point. Forward-looking: it has not happened yet and may not happen.CLT1 is expected to deliver 50 MW of critical IT capacity under an executed 12-year agreement.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Estimated total development cost is approximately $760–$780 million including land, subject to scope, procurement, financing and timing changes.
• Minor point. Forward-looking: it has not happened yet and may not happen.Projected stabilized net operating income depends on project completion and actual operating results; it is not current shareholder cash.

Key Figures

Projected annual stabilized NOI: $90.5 million Critical IT capacity: 50 MW Agreement term: 12 years +4 more

Projected annual stabilized NOI

$90.5 million

Year 5 of executed customer agreements across contracted sites; projected, not current earnings

Critical IT capacity

50 MW

CLT1 capacity under an executed 12-year agreement

Agreement term

12 years

Executed CLT1 customer agreement

Estimated total development cost

$760-$780 million

Includes land

Estimated construction costs

$630-$645 million

Component of total development cost

Land, contingency and financing costs

$130-$135 million

Component of total development cost

Development cost per IT MW

$15.2-$15.6 million

Based on 50 MW of critical IT capacity

Historical Context

2 past events · Latest: Oct 07

2 events

1. Oct 07

   CLT1 funding plan

   24h Move

   -4.5%

   Outlined planned customer prepayments and project financing for CLT1; project financing remained unsecured.

2. Oct 01

   CLT1 customer agreement

   24h Move

   +0.0%

   Announced binding 50 MW, 12-year CLT1 customer agreement and expected customer prepayments.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

net operating income (noi), non-gaap financial measure, uninterruptible power supply (ups), switchgear

4 terms

net operating income (noi) financial

"annual stabilized net operating income (NOI), a non-GAAP financial measure"

Net operating income (NOI) is the money a property or business generates from its regular operations after paying direct operating costs (like maintenance, utilities, and staff) but before paying financing costs, taxes, or accounting write‑downs. Investors use NOI to judge how well an asset produces cash from its core activity—think of it as the profit from running a store before paying the mortgage and taxes—so it helps compare properties and value income-producing investments.

non-gaap financial measure financial

"NOI, a non-GAAP financial measure, based on Year 5"

A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.

uninterruptible power supply (ups) technical

"uninterruptible power supply (UPS) systems and switchgear"

An uninterruptible power supply (UPS) is a device that provides immediate backup power and surge protection to electronic systems when the main electricity supply fails or fluctuates. For investors it matters because a UPS helps prevent costly downtime, data loss, damaged equipment and business disruption—think of it as a short-term battery or emergency parachute that keeps critical operations like trading platforms, servers and medical equipment running long enough to switch to a safe shutdown or secondary power source.

switchgear technical

"UPS systems and switchgear, with delivery scheduled"

Switchgear is the collection of devices—like switches, circuit breakers and fuses—that control, protect and isolate electrical equipment to keep power flowing safely and reliably. Think of it as the traffic control system for electricity that prevents overloads and faults from causing outages or damage. Investors care because switchgear is essential infrastructure that affects utility reliability, capital spending cycles, regulatory fines and maintenance costs, and it can drive demand for manufacturers and service providers.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Contracted Sites Underwritten to Approximately $90.5 Million in Projected Annual Stabilized NOI, Based on Year 5 of the Executed Customer Agreements

NEW YORK, Nov. 10, 2026 (GLOBE NEWSWIRE) -- AIB Data Centers Inc. (NYSE American: AIB) (“AIB” or the “Company”), a developer of right-sized, 40–90 MW data centers for artificial intelligence (“AI”) and high-performance computing (“HPC”) customers, today announced that prepayment obligations were funded into escrow for AIB’s CLT1 campus and that AIB has received its first draw. AIB has also executed purchase orders for backup generators, uninterruptible power supply (UPS) systems and switchgear, with delivery scheduled to support the construction timeline.

These milestones advance the development of CLT1, where AIB expects to deliver 50 MW of critical IT capacity under an executed 12-year agreement. Across all contracted sites, the Company’s underwriting projects approximately $90.5 million in annual stabilized net operating income (NOI), a non-GAAP financial measure, based on Year 5 of the executed customer agreements.

“For neocloud companies, capacity is valuable when delivery is timely,” said Jerry Tang, Chief Executive Officer of AIB Data Centers. “Our focus is now on converting contracted demand into operating assets and recurring income. Each of these milestones moves us closer to our goal of becoming the go-to developer for neocloud companies.”

Contracted Portfolio Underwritten to $90.5 Million in Projected Annual Stabilized NOI

AIB’s approximately $90.5 million of underwritten projected annual stabilized NOI reflects Year 5 of the executed customer agreements across all contracted sites. It represents projected property-level operating performance at stabilization, not current earnings or cash available to common shareholders. Realization of this estimate depends on project completion and actual operating results.

Development Costs Include Construction and Other Project Costs

The Company’s estimated total development cost is approximately $760-$780 million including land. This comprises approximately $630-$645 million in construction costs and $130-$135 million in land, contingency and financing costs. On the 50 MW critical IT capacity basis used in this update, this equates to approximately $15.2-$15.6 million per IT MW: $12.6-$12.9 million for construction and $2.6-$2.7 million in land, contingency, and financing costs. Estimates remain subject to changes in project scope, procurement pricing, financing terms, and construction timing.

Right-Sized Projects Mean Greater Delivery Certainty

AIB is focusing on 40–90 MW data centers as communities and policymakers across the country scrutinize proposed data centers’ effects on utility bills, local infrastructure, land and water use, and neighbors’ quality of life. At every site, AIB engages early and stays engaged: listening to local officials and neighbors, being transparent about what it is building, and working with them from development through operations.

Paired with secured power and standardized design, this approach is intended to provide greater delivery certainty for neocloud customers.

“We chose 40–90 MW because it is a scale we can execute with greater certainty,” Tang added. “That matters to customers whose businesses depend on capacity arriving on time.”

AIB will discuss its progress at CLT1 on its third quarter 2026 earnings call; date and dial-in details will be announced separately.

Stay Informed

Investors can follow AIB’s progress, sign up for company updates and find details for the third quarter 2026 conference call through the Investor Hub at https://www.aib.us/investors/, or by contacting Investor Relations at AIB@mzgroup.us.

About AIB Data Centers

AIB Data Centers Inc. is a developer and operator of digital infrastructure focused on AI hosting and high-performance computing workloads. The Company's platform combines access to reliable, scalable power resources with modular infrastructure deployment designed to accelerate the development of next-generation compute capacity.

For more information, visit https://www.aib.us/.

Non-GAAP Financial Measures

AIB defines NOI as revenue less property operating expenses: property management, insurance, property taxes, general and administrative expenses. NOI is not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) and should not be considered an alternative to net income, operating income or any other GAAP measure. AIB has not provided a reconciliation of projected NOI to operating income, the most directly comparable GAAP measure, because certain reconciling items, principally depreciation and amortization (which depends on final project costs and the timing of placing facilities in service) are not yet known and cannot be estimated without unreasonable efforts. These items could be significant.

Forward-Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements may be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. Forward-looking statements in this release include expected equipment delivery timing, future releases of escrowed funds, underwritten stabilized NOI based on Year 5 of executed customer agreements, estimated construction and total development costs, and expected benefits of the Company’s development strategy. These statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including the Company’s ability to attract and retain key personnel, the availability of capital and project financing, the timing and completion of construction, utility and interconnection work, including at the Company’s CLT1 data center campus, the receipt of required permits and governmental approvals, customer demand, the Company’s ability to satisfy its obligations under customer agreements, changes in applicable laws, regulations or utility requirements, and other factors described in the Company’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement except as required by law.

Investor Relations

Chris Tyson
Executive Vice President
MZ Group - MZ North America
Phone: (949) 491-8235
AIB@mzgroup.us
www.mzgroup.us

Media Relations

Alex Petersen
Director of Media Relations
Tigercomm
Phone: (203) 313‑7699
media@aib.us

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What funding and equipment milestones has AIB completed for CLT1?

CLT1 prepayment obligations were funded into escrow, and AIB received its first draw. AIB also executed purchase orders for backup generators, uninterruptible power supply systems and switchgear, with delivery scheduled to support construction.

What does AIB's projected $90.5 million annual stabilized NOI represent?

The approximately $90.5 million projection represents annual property-level net operating income at stabilization across all contracted sites, based on Year 5 of executed customer agreements. It is a non-GAAP measure, not current earnings or cash available to common shareholders, and depends on project completion and actual operating results.

How does AIB break down its estimated development costs?

Estimated development costs comprise approximately $630–$645 million in construction and $130–$135 million in land, contingency and financing costs. On the 50 MW critical IT capacity basis used in the update, total estimated cost equates to approximately $15.2–$15.6 million per IT MW.