Alpha Compute Closes $32.2 Million Revenue Contract with AI Lab Customer

Alpha Compute (ALP) signed a two-year, $32.2 million compute off-take lease with a leading frontier AI lab for its inaugural enterprise-scale NVIDIA B200 deployment in Canada.

Rhea-AI Summary

Alpha Compute (ALP) signed a two-year, $32.2 million compute off-take lease with a leading frontier AI lab for its inaugural enterprise-scale NVIDIA B200 deployment in Canada.

The deal secures $16.1 million in Annual Recurring Revenue, a $7.5 million upfront payment, and dedicates 504 NVIDIA B200 GPUs powered by 100% hydroelectric energy.

Positive

• Two-year compute contract with $32.2 million total value
• $16.1 million in contracted Annual Recurring Revenue
• $7.5 million expected upfront payment improving near-term cash flow
• First enterprise-scale customer agreement for 504 NVIDIA B200 GPUs
• Revenue backed by two-year dedicated capacity reservation
• Deployment in Canadian data center powered by 100% hydroelectric energy

Negative

• None.

Argus May 12 session

+15.46% close to close Open Argus

Details

News Market Reaction – ALP

In the May 12 session, ALP gained 15.46%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock surged +15.5% in the session following this news. A strong positive reaction aligns with p...

Analysis

The stock surged +15.5% in the session following this news. A strong positive reaction aligns with prior behavior, where AI-focused milestones produced a 5.12% move on earlier deployment news. This contract adds tangible, multi-year $16.1M ARR on top of projected GPU revenue, but investors must weigh financing structures like the $31.9M non-recourse loan and rapid capacity expansion when assessing how durable any upside might be.

Key Figures

Total Contract Value: $32,200,000 Annual Recurring Revenue: $16,100,000 Upfront Payment: $7,500,000 +5 more

Total Contract Value

$32,200,000

Two-year compute off-take agreement with frontier AI lab

Annual Recurring Revenue

$16,100,000

ARR secured under two-year lease agreement

Upfront Payment

$7,500,000

Expected upfront payment securing two-year capacity reservation

Agreement Term

Two years

Duration of AI compute lease contract

GPU Deployment

504 NVIDIA B200 GPUs

Dedicated cluster in Canadian data center

Energy Source

100% hydroelectric power

Power supply for Canadian data center deployment

Projected Annual Revenue

$72,000,000

Combined planned ALPHA-01 and ALPHA-02 deployments (Apr 27 AI update)

Loan Facility

$31,900,000

Non-recourse senior secured GPU financing term sheet (Apr 22 news)

Previous AI Reports

1 past event · Latest: Apr 27

Same Type 1 event

1. Apr 27

   AI deployment update

   24h Move

   +5.1%

   Outlined Blackwell GPU deployment timing and projected $72M annual revenue from clusters.

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

Key Terms

gpu-as-a-service, gpuaaS, tensor core, hydroelectric power

4 terms

gpu-as-a-service technical

"a pioneering technology leader in AI GPU-as-a-service (GPUaaS) and AI Confidential Compute"

GPU-as-a-Service is a pay-as-you-go model that lets businesses rent powerful graphics processing units (GPUs) over the internet instead of buying the hardware outright. It matters to investors because it lowers upfront costs and speeds time-to-market for companies using AI, data analysis, or 3D rendering—similar to renting a high-performance car for a specific trip rather than owning one—and can make firms more flexible, scalable, and capital-efficient.

gpuaaS technical

"a pioneering technology leader in AI GPU-as-a-service (GPUaaS) and AI Confidential Compute"

GPU as a Service (GPUaaS) is a cloud offering that lets customers rent powerful graphics processors on demand instead of buying hardware, similar to renting a high-performance workstation by the hour. Investors care because it turns a large, upfront capital expense into recurring revenue for providers, scales with demand from AI, gaming and scientific workloads, and can signal faster customer adoption and higher-margin, subscription-style business models for companies offering the service.

tensor core technical

"GPU Deployment: 504 × NVIDIA B200 Tensor Core GPUs Data Center Location: Canada"

A tensor core is a specialized chip unit inside modern processors designed to handle large-scale math used by artificial intelligence and machine-learning models, especially fast matrix multiplications. Think of it as a custom assembly-line worker that performs one repetitive, heavy-duty task much faster and more efficiently than a general-purpose worker; for investors, the presence and quality of tensor cores can signal a product’s ability to run AI workloads faster, cheaper, and with lower power use, influencing market demand, pricing power, and revenue potential.

hydroelectric power technical

"Data Center Location: Canada Energy: 100% Hydroelectric Power Agreement Term: Two (2) Years"

Hydroelectric power is electricity generated by using the energy of moving water—typically from rivers or reservoirs—turned through turbines to make power, like a waterwheel driving a mill. It matters to investors because hydro projects are large, long-lived assets that can produce steady, low-cost electricity and predictable cash flow similar to a toll bridge, but they also carry risks from construction expense, water availability, regulation and environmental impact.

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

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Leading AI Research Lab signs two-year compute off-take agreement for the ALPHA-01 Enterprise-Scale NVIDIA B200 Deployment of 504 GPUs in Canadian Data Center

ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS, May 12, 2026 (GLOBE NEWSWIRE) -- Alpha Compute Corp. (“Alpha Compute” or the “Company”), a pioneering technology leader in AI GPU-as-a-service (GPUaaS) and AI Confidential Compute, today announced it has closed a definitive lease agreement with a leading frontier artificial intelligence laboratory for the Company’s inaugural enterprise-scale NVIDIA B200 GPU deployment located in its Canadian data center.  

The two-year agreement has a total contract value of $32.2 million and delivers $16.1 million in Annual Recurring Revenue (ARR) to Alpha Compute, with an expected upfront payment of $7.5 million securing the reservation of compute capacity for two years. 

The agreement covers a dedicated cluster of 504 NVIDIA B200 GPUs — one of the most advanced GPU architectures available for large-scale AI training and inference workloads — providing the unnamed frontier AI laboratory with exclusive, high-performance compute access to accelerate its next-generation model development. The identity of the tenant, a recognized leader in frontier AI research, has not been disclosed for privacy. Alpha Compute expects to provide further details regarding the partnership as contractually permitted. 

"This contract is a defining moment for Alpha Compute, confirming our belief that there is a massive global appetite for sovereign, specialized AI infrastructure," stated Alpha Compute CEO Brittany Kaiser. "Finalizing a $32.2 million deal with a leading AI research firm is a testament to our technical excellence, our robust Canadian data center presence, and the trust our clients have in our enterprise-grade delivery. We are establishing the foundation for the future AI economy, and this partnership is a clear signal of our success." 

Yury Mitin, Chief Business Development Officer commented, “The 504-GPU B200 deployment represents Alpha Compute’s first enterprise-scale customer agreement and marks a critical inflection point in the Company’s commercial strategy. The NVIDIA B200 GPU delivers unprecedented performance for AI and HPC workloads, making it the preferred architecture for frontier model training at scale.” 

With $16.1 million in annual revenue now secured under contract, Alpha Compute is actively expanding its sales pipeline of enterprise compute agreements with AI laboratories, sovereign entities, and enterprise customers seeking dedicated, high-performance GPU infrastructure outside of traditional hyperscaler environments. 

TRANSACTION HIGHLIGHTS
Total Contract Value:  $32,200,000
Annual Recurring Revenue:  $16,100,000
Upfront Payment:  $7,500,000
GPU Deployment:  504 × NVIDIA B200 Tensor Core GPUs
Data Center Location:  Canada
Energy: 100% Hydroelectric
Power Agreement Term:  Two (2) Years
Tenant:  Unnamed Leading Frontier AI Laboratory 

Alpha Compute continues to evaluate additional GPU procurement and leasing opportunities across its growing portfolio of data center partnerships in North America and Europe. The Company’s infrastructure strategy is designed to serve the rapidly expanding demand for dedicated compute from AI research organizations, national sovereign AI initiatives, and enterprise customers requiring privacy-centric compute solutions. 

About Alpha Compute Corp.
Alpha Compute Corp. (Nasdaq: ALP) is a pioneering leader in AI GPU-as-a-service (GPUaaS) and AI Confidential Compute. Alpha Compute builds and operates businesses at the intersection of confidential computing, artificial intelligence, and decentralized AI. The Company’s GPU assets deliver privacy-preserving computation to partners and applications including Telegram, Animoca Brands, GAMEE, and Midnight Network. Alpha Compute is incorporated in the British Virgin Islands.  

Visit https://www.alphacompute.ai/  

Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements other than statements of historical fact, including those preceded by, followed by, or incorporating words such as "believes," "expects," "anticipates," "intends," "estimates," "plans," "may," "will," "potential," "continues," or similar expressions are forward-looking statements. 

Forward-looking statements in this release include, without limitation: the expected timing and go-live dates for Alpha Compute's GPU cluster deployments; projected revenue from the Company's AI infrastructure buildout; anticipated benefits from the Company's confidential compute partnerships and infrastructure expansion; and the Company's broader business strategy and operational plans. 

These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied, including: the timing and progress of the Company's strategic initiatives; reliance on third-party vendors and partners; the ability to secure additional financing; uncertainty around the Company's investments and legacy business; risks related to technology platforms and ecosystems; and general market and economic conditions. A more complete discussion of these risks is set forth under "Item 3 - Key Information - Risk Factors" in the Company's Annual Report on Form 20-F for the year ended March 31, 2025, and in the Company's Forms 6-K filed with the Securities and Exchange Commission on September 3, 2025 and January 13, 2026. 

Undue reliance should not be placed on these forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release, and the Company undertakes no obligation to update or revise them publicly, except as required by law. 

Investor & Media Contact

Alpha Compute Corp.
ir@alphacompute.ai
www.alphacompute.ai 

ir(at)alphacompute.ai

FAQ

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

What contract did Alpha Compute (ALP) announce on May 12, 2026?

Alpha Compute announced a two-year, $32.2 million compute off-take lease with a leading frontier AI lab. According to Alpha Compute, the agreement supports its inaugural enterprise-scale NVIDIA B200 deployment in a Canadian data center.

How much Annual Recurring Revenue does Alpha Compute's new AI lab contract generate?

The new AI lab contract generates $16.1 million in Annual Recurring Revenue for Alpha Compute. According to Alpha Compute, this contracted ARR comes from a two-year lease for a dedicated cluster of 504 NVIDIA B200 GPUs in Canada.

What upfront payment will Alpha Compute receive from the $32.2 million AI compute contract?

Alpha Compute expects a $7.5 million upfront payment from the $32.2 million contract. According to Alpha Compute, this upfront amount secures two years of reserved compute capacity for the unnamed frontier AI laboratory tenant.

What hardware is included in Alpha Compute's two-year AI lab agreement?

The agreement covers a dedicated cluster of 504 NVIDIA B200 Tensor Core GPUs. According to Alpha Compute, these GPUs support large-scale AI training and inference as part of the ALPHA-01 enterprise-scale deployment in its Canadian data center.

Where is Alpha Compute's new NVIDIA B200 deployment for the AI lab located?

The NVIDIA B200 deployment is located in Alpha Compute's Canadian data center. According to Alpha Compute, the facility uses 100% hydroelectric power and hosts 504 GPUs dedicated to the unnamed frontier AI laboratory tenant.

How does the new $32.2 million contract affect Alpha Compute's commercial strategy?

The contract marks Alpha Compute's first enterprise-scale customer agreement and a key commercial milestone. According to Alpha Compute, it validates demand for dedicated, sovereign AI infrastructure and supports expansion of its sales pipeline with labs, sovereign entities, and enterprises.