FingerMotion Notes Lyken.AI Non-Binding MOU for 128-Node B300 AI Compute Cluster
Rhea-AI Summary
FingerMotion (Nasdaq: FNGR) reported that Lyken.AI, in which FingerMotion holds a 9.9% equity interest, has entered into a non-binding memorandum of understanding dated August 24, 2026 with Singapore-based Swarmnet Solutions. FingerMotion acquired its Lyken stake from Alset AI Ventures in an all-stock transaction valued at $500,000 that closed on August 17, 2026, while Alset AI retains a 90.1% controlling interest in Lyken.
The MOU outlines an indicative framework under which Lyken may lease, host, manage or otherwise make available a 128-node NVIDIA B300 AI compute cluster to Swarmnet for inference workloads, along with token optimization services, under a contemplated five-year term. The arrangement is subject to Lyken securing sufficient funding, negotiation and execution of definitive agreements, regulatory and internal approvals, credit support, hardware and data-center availability, and compliance with export-control and sanctions requirements. The MOU is expressly non-binding and non-exclusive, with no assurance the deployment will proceed.
Positive
- 9.9% Lyken equity stake acquired for $500,000 in stock
- Lyken signs non-binding MOU for potential 128-node NVIDIA B300 cluster
- Contemplated five-year commercial framework for AI inference and token optimization workloads
Negative
- MOU is non-binding and non-exclusive with no payment or capacity obligations
- Transaction subject to Lyken securing sufficient funding for hardware and infrastructure
- Indicative arrangement requires definitive agreements, approvals, and due diligence before proceeding
- No aggregate revenue figures disclosed until and unless definitive agreements are executed
- Company notes there is no assurance the proposed deployment will proceed on contemplated terms or at all
Market reaction after AI compute partnership: FNGR +4.91%
Following this news, FNGR has gained 4.91%, reflecting a moderate positive market reaction. Argus tracked a peak move of +105.7% during the session. Argus tracked a trough of -19.1% from its starting point during tracking. Our momentum scanner has triggered 55 alerts so far, indicating high trading interest and price volatility. The stock is currently trading at $0.20. Trading volume is exceptionally heavy at 4696.7x the average, suggesting very strong buying interest.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
Previous AI Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 17 | Lyken acquisition completion | Positive | -0.6% | Completed 9.9% Lyken acquisition through $500,000 stock-based consideration |
| Aug 13 | Lyken acquisition agreement | Positive | -4.3% | Announced agreement to acquire 9.9% Lyken interest for $500,000 |
| Jun 18 | Compute site discussions | Positive | +0.9% | Advanced non-binding discussions identified a potential 600 kW Alberta facility |
| Jun 09 | Edge AI compute MOU | Positive | -0.8% | Signed non-binding MOU covering Western Canada edge AI inference sites |
| Jun 04 | AI infrastructure MOU | Positive | -9.6% | Outlined non-binding framework for behind-the-meter AI infrastructure development |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-tagged announcements were followed by negative 24-hour reactions in four of five events, including both Lyken acquisition disclosures.
Key Terms
memorandum of understanding regulatory
platform-as-a-service technical
export-control regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Lyken, in which FingerMotion holds a
WEST PALM BEACH, FL, Aug. 25, 2026 (GLOBE NEWSWIRE) -- FingerMotion, Inc. (Nasdaq: FNGR) (“FingerMotion” or the “Company”), a mobile data and telecommunications services company expanding into the enterprise AI compute market, today noted that Lyken AI Computing Inc., operating as Lyken.AI (“Lyken”), announced this morning they entered into a non-binding memorandum of understanding dated August 24, 2026 (the “MOU”) with Singapore-based SWARMNET SOLUTIONS PTE. LTD. (“Swarmnet”).
FingerMotion acquired a
The MOU outlines an indicative framework under which Lyken would lease, host, manage and/or otherwise make available a 128-node NVIDIA B300 AI compute cluster to Swarmnet for inference workloads, together with token optimization services and related commercial arrangements. The contemplated service is intended to support Lyken’s broader Platform-as-a-Service strategy, combining managed compute with server and token optimization.
The contemplated arrangement contemplates an indicative five-year term beginning at service commencement, with aggregate indicative revenues to be determined and disclosed upon execution of definitive agreements. Final hardware configuration, deployment location and schedule, networking, storage, reserve capacity, acceptance testing, service levels, support requirements and other commercial terms would be established only in definitive agreements.
“This MOU reflects the type of enterprise-scale opportunity that first attracted FingerMotion to Lyken,” said Jolie Kahn, Chief Executive Officer of FingerMotion. “Our
Progression of the opportunity is expressly subject to Lyken securing sufficient funding to procure, reserve and deploy the contemplated hardware and associated infrastructure. It is also subject to negotiation and execution of definitive agreements, due diligence, internal approvals (including, if applicable, acceptance by the TSX Venture Exchange), satisfactory credit support, hardware and data-center availability, and compliance with applicable export-control, sanctions, end-user and end-use requirements.
The MOU is non-binding and non-exclusive and records the parties’ present commercial intentions only. Neither party has any binding obligation to make a payment, reserve capacity, procure equipment, provide or take capacity, or enter into the contemplated transaction unless and until definitive agreements are executed. There can be no assurance that Lyken will secure the required funding, that definitive agreements will be entered into, or that the proposed deployment will proceed on the terms contemplated or at all.
About Lyken.AI
Lyken.AI is Alset AI’s cloud compute business and is developing an integrated Platform-as-a-Service offering spanning managed compute, server and token optimization, secure storage, private low-latency networking and enterprise deployment support. Lyken’s model is intended to extend beyond infrastructure access through related technical coordination and support services. For more information, please visit www.lyken.ai.
About FingerMotion, Inc.
FingerMotion is a technology company serving a growing base of users across the mobile payment, recharge, and data-analytics markets in the People’s Republic of China. The Company continues to develop new tools and services for those users, with the long-term objective of expanding that base organically into a large and highly engaged community — scale the Company believes will support relationships with larger, higher-value customers over time. The Company also evaluates emerging technologies for adjacent opportunities.
FingerMotion is extending that strategy into the enterprise AI and cloud compute market through its equity position in Lyken AI Computing Inc. Under the terms of the transaction, the Company may increase that position over time, subject to the conditions set out in the definitive agreements.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the Company & Lyken, including statements relating to the MOU; the potential commercial relationship between Lyken and Swarmnet; the contemplated 128-node B300 AI compute deployment; the proposed five-year term, inference workloads, token optimization services, hardware configuration, deployment location and schedule, service commencement, service levels and other commercial terms; Lyken’s ability to secure sufficient funding on acceptable terms; the negotiation and execution of definitive agreements; the availability, procurement, reservation, deployment and operation of B300 compute hardware and associated data-center, power, networking and storage infrastructure; customer credit support; compliance with applicable export-control, sanctions, end-user and end-use requirements; Lyken’s Platform-as-a-Service strategy, optimization capabilities, platform economics, growth strategy and ability to execute and scale; and FingerMotion’s strategy with respect to its investment in Lyken and the enterprise AI compute market.
Forward-looking statements normally contain words such as “will,” “intend,” “anticipate,” “could,” “should,” “may,” “might,” “expect,” “estimate,” “plan,” “potential,” “believe,” “target,” “continue” and similar terms. Such statements are subject to risks and uncertainties, including that the MOU is non-binding and may be discontinued; the parties may not agree on definitive terms or execute definitive agreements; Lyken may not obtain sufficient financing on acceptable terms or at all; required customer prepayments or credit support may not be received; B300 hardware, data-centre space, power, networking or related infrastructure may be unavailable, delayed or more costly than anticipated; deployment, integration, acceptance, performance, security or service-level challenges may arise; expected utilization, optimization benefits or platform economics may not be realized; customer requirements or demand may change; required governmental, regulatory or third-party authorizations may not be obtained; export-control, sanctions, know-your-customer, end-user or end-use concerns may delay, condition or prevent performance; and competition, pricing pressure, technological change, supply-chain constraints and changes in applicable laws may adversely affect the contemplated opportunity.
Forward-looking statements are not guarantees of future performance. Actual results could differ materially due to risks and uncertainties including the Company's limited operating history in enterprise computing; competition from hyperscale and specialized compute providers; GPU, data-center, power and supply-chain constraints; inability to convert pipeline opportunities into binding contracts; customer non-renewal, termination or delayed purchasing decisions; pricing pressure and rapid technological change; the availability and cost of capital required to expand the Company's business; restrictions on the issuance, listing, transfer or resale of securities; fluctuations in FingerMotion's share price or foreign-exchange rates; third-party consent and confidentiality limitations; and different accounting or tax outcomes than expected. This list is not exhaustive.
Additional information concerning these and other risk factors is contained in FingerMotion's most recent Annual Report on Form 10-K and subsequent filings with the U.S. Securities and Exchange Commission, available at www.sec.gov. All forward-looking statements are expressly qualified by these cautionary statements and are made as of the date of this press release. FingerMotion undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
For further information about FingerMotion, Inc., please contact:
Investor Relations
FingerMotion, Inc.
Email: ir@fingermotion.com
Website: www.fingermotion.com
