Alset AI Announces Extension of Lyken.AI Cloud Compute Services Contract with Multinational Technology and Telecommunications Company
Lyken.AI secures about C$580,000 in cloud compute orders, extending its current customer contract coverage through March 31, 2027.
Rhea-AI Summary
Alset AI (GPUSF) announced that its 90.1%-owned unit Lyken.AI has received new purchase orders totaling approximately C$580,000 to extend cloud compute services for a leading multinational technology and telecommunications company from August 25, 2026 through March 31, 2027.
The customer relationship, which began in February 2026, is structured as sequential purchase orders for defined service periods. The current orders are binding only for the August 25, 2026–March 31, 2027 period, and the customer has no obligation to issue further orders or maintain the relationship afterward. Alset AI expects gross margin of about 5% on these services before corporate and administrative costs, which may not be fully covered. The extension provides contracted activity for Lyken.AI through March 31, 2027 under the existing relationship.
Positive
- New purchase orders totaling approximately C$580,000 for cloud compute services
- Service period extended with customer through March 31, 2027
- Relationship maintained with a leading multinational technology and telecommunications company
Negative
- Expected gross margin only ~5% before corporate and administrative costs
- No obligation for future orders beyond March 31, 2027
- No assurance of future revenue, margin or profitability from this customer relationship
- No assurance Lyken will develop or commercialize its planned Platform-as-a-Service offering
AI-generated analysis. How Rhea-AI works. Not financial advice.
Purchase orders totaling approximately C
VANCOUVER, BC / ACCESS Newswire / September 8, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTCQB:GPUSF)(FSE:1R61, WKN:A40M0J) ("Alset AI", "Alset" or the "Company"), an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions, is pleased to announce that its
The extension follows the Company's May 14, 2026 update regarding the continuation of the customer relationship, which commenced in February 2026. The new purchase orders extend the service relationship through March 31, 2027 and further advance Lyken's operating track record across successive service periods.
The customer relationship operates through purchase orders issued for defined service periods. The current purchase orders are binding for the period from August 25, 2026 through March 31, 2027; however, the customer has no binding obligation to issue additional purchase orders or continue the relationship beyond that period. There can be no assurance that additional purchase orders will be issued, that any future services will be provided on the same terms, or that any future revenue, margin or profitability will be achieved.
Lyken provides access to outsourced cloud compute server capacity, together with related technical coordination and support services. The extension reflects the continuation of those services under the existing customer relationship and provides Lyken with contracted activity through March 31, 2027.
Based on current expected third-party hosting, commission and service costs, the Company expects gross margin from the services covered by the purchase orders to be approximately
About Lyken.AI
Lyken.AI is Alset AI's cloud compute business and is working toward developing an integrated Platform-as-a-Service offering that is intended to span 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. There is no assurance that Lyken will successfully develop or commercialize the planned Platform-as-a-Service offering. For more information, please visit www.lyken.ai.
About Alset AI Ventures Inc.
Alset AI is an AI-focused venture investment platform dedicated to sourcing, funding and developing companies across the artificial intelligence value chain. The Company seeks to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.
For further information about Alset AI Ventures Inc., please contact:
Investor Relations
Adam Ingrao
Chief Executive Officer
T: 236.312.6744
E: ir@alsetai.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note regarding Forward-Looking Statements
This press release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company, including statements relating to the expected gross margin from the current purchase orders; Lyken's ability to provide cloud compute capacity, technical coordination and support services under the purchase orders; the continuation and performance of the customer relationship; the possibility and terms of future purchase orders; Lyken's ability to build a durable commercial operating track record; and the strategic direction and business plans of the Company. Forward-looking statements normally contain words such as "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "target", "continue" and similar terms. Forward-looking statements are not guarantees of future performance and are based on expectations, assumptions and other factors that management currently believes are reasonable. Actual results could differ materially as a result of risks and uncertainties, including customer purchasing decisions, customer concentration, changes in customer requirements, third-party hosting and service costs, equipment and compute-capacity availability, currency fluctuations, collection timing, service-level or performance issues, general economic conditions, and unforeseen events and developments. This list is not exhaustive. All forward-looking statements are expressly qualified by these cautionary statements and are made as of the date hereof. Except as required by applicable securities laws, Alset undertakes no obligation to update them. Additional risks are described in Alset's public filings available at www.sedarplus.ca.
Cautionary Note Regarding Future-Oriented Financial Information
This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") regarding the Company's expected gross margin from the current purchase orders. The FOFI is based on management's current assumptions, including expected third-party hosting, commission and service costs remaining consistent with recent periods, and is subject to the same risk factors, limitations and qualifications described above. The FOFI has been included to provide balanced disclosure regarding the expected financial contribution of the purchase orders and should not be used for any other purpose. There can be no assurance that the expected gross margin will be achieved, and actual results may differ materially. Readers are cautioned not to place undue reliance on the FOFI. Except as required by applicable law, the Company undertakes no obligation to update or revise the FOFI.
SOURCE: Alset AI Ventures Inc.
View the original press release on ACCESS Newswire
FAQ
What period is covered by the new Lyken.AI cloud compute purchase orders?
The new purchase orders are binding for the period from August 25, 2026 through March 31, 2027. During this time, Lyken.AI will continue providing outsourced cloud compute server capacity and related technical coordination and support services to the customer.
Is the customer obligated to continue working with Lyken.AI after March 31, 2027?
No. The customer is not under any binding obligation to issue additional purchase orders or to continue the relationship beyond the current period ending March 31, 2027. There is also no assurance that any future services would be on the same terms.
What profitability does Alset AI expect from the newly covered services?
Based on expected third-party hosting, commission and service costs, Alset AI expects a gross margin of approximately 5% from the services covered by the new purchase orders, before corporate overhead, administrative expenses and other issuer costs. The company notes this margin may not be sufficient to cover all such corporate and administrative costs allocated to Lyken.AI.
What services does Lyken.AI currently provide under this customer relationship?
Lyken.AI provides outsourced cloud compute server capacity along with related technical coordination and support services. The extension reflects the continuation of these services under the existing customer relationship.
What longer-term platform is Lyken.AI aiming to build?
Lyken.AI is working toward an integrated Platform-as-a-Service offering intended to cover managed compute, server and token optimization, secure storage, private low-latency networking and enterprise deployment support. The company cautions there is no assurance it will successfully develop or commercialize this planned platform.