Alset AI Announces Technology Veteran Kurtis Krack Appointed President of Lyken.AI to Drive Growth

Rhea-AI Summary

Alset AI Ventures (OTC:GPUSF) has appointed technology veteran Kurtis Krack as the new President of its cloud compute business, Lyken.AI, effective September 15, 2025. Krack brings over 20 years of technology sector experience from previous leadership roles at Denvr Dataworks, OnX Enterprise Solutions, and EMC/Dell.

In his new role, Krack will focus on three key areas: developing Lyken.AI's go-to-market roadmap, scaling infrastructure across North America, and expanding partner integrations within the AI compute ecosystem. His appointment is subject to TSX Venture Exchange approval.

Positive

• Appointment of seasoned executive with over 20 years of relevant industry experience
• Strategic focus on platform expansion and infrastructure scaling across North America
• Leadership experience with Fortune 500 clients indicates potential for enterprise-level growth

Negative

• Appointment subject to regulatory approval from TSX Venture Exchange
• No immediate revenue impact or financial metrics provided

Formerly at Denvr Dataworks Corp., OnX, and EMC/Dell, Krack Brings Deep Expertise in Platform Expansion, Revenue Generation, and Large-scale Infrastructure Solutions

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / September 16, 2025 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC PINK:GPUSF)(FSE:1R60)(WKN:A3ESVQ) ("Alset AI" or the "Company") an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions is pleased to announce the appointment of Kurtis Krack as President of its flagship cloud compute business, Lyken.AI ("Lyken"),as of September 15, 2025. Krack, a seasoned technology executive with over 20 years of sector experience, joins Lyken to lead the company's platform-as-a-service ("PaaS") expansion, infrastructure scaling, and commercial growth strategy.

Krack's background includes leadership roles at Denvr Dataworks, OnX Enterprise Solutions, and EMC, where he built and scaled enterprise IT infrastructure platforms, drove cloud adoption across Fortune 500 clients.

At Lyken.AI, Krack will be helping develop the company's go-to-market roadmap, scaling the infrastructure footprint across Canada and North America, and deepening partner integrations across the AI compute ecosystem.

Adam Ingrao, Chief Executive Officer of Alset AI, commented: "Kurtis brings the perfect blend of enterprise experience and growth leadership to Lyken at a time when the market demands execution, speed, and scale. His proven track record of driving platform transformation and managing complex technology rollouts makes him the right leader to take Lyken into its next phase of growth. We're excited to have him on board."

Krack stated: "Joining Lyken.AI is an extraordinary opportunity to help buildout the critical infrastructure that underpins the future of artificial intelligence. The demand for scalable compute continues to grow and I look forward to working with the Lyken team to expand our platform. I look forward to working with the team to expand our platform, deepen our partner ecosystem, and accelerate revenue growth as we scale into the next phase."

Mr. Krack's appointment to Lyken is subject to the approval of the TSX Venture Exchange.

About Alset AI Ventures Inc.

Alset AI is a pioneering AI and cloud computing investment firm, committed to nurturing high- potential technology companies. Through a combination of capital, strategic advisory, and cloud computing alliances, Alset AI is shaping the future of artificial intelligence and building an AI-focused venture capital platform poised for substantial growth.

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 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 may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company and Lyken, including statements about Mr. Krack's anticipated role in developing Lyken's go-to-market roadmap, scaling infrastructure across North America, deepening partner integrations within the AI compute ecosystems, and advancing Lyken's next phase of growth. Forward-looking statements may also relate to Mr. Kracks's plans to build AI critical infrastructure, collaborate with others to expand the Lyken platform, support revenue growth and scaling initiatives, and the Company's ability to shape the future of artificial intelligence. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release.Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Alset AI's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Alset AI. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Alset AI undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risks and Uncertainties" in its most recent Management's Discussion and Analysis and other disclosure documents available on SEDAR+ at www.sedarplus.ca.

SOURCE: Alset AI Ventures Inc.

View the original press release on ACCESS Newswire

FAQ

Who is the new President of Lyken.AI and what is his background?

Kurtis Krack is the new President of Lyken.AI, bringing over 20 years of technology sector experience from previous leadership roles at Denvr Dataworks, OnX Enterprise Solutions, and EMC/Dell.

What are Kurtis Krack's main responsibilities at Lyken.AI (GPUSF)?

Krack will focus on developing the go-to-market roadmap, scaling infrastructure across North America, and expanding partner integrations within the AI compute ecosystem.

When does Kurtis Krack start his role as President of Lyken.AI?

Krack's appointment is effective September 15, 2025, subject to TSX Venture Exchange approval.

What is Lyken.AI's relationship with Alset AI Ventures (GPUSF)?

Lyken.AI is the flagship cloud compute business of Alset AI Ventures, focusing on platform-as-a-service (PaaS) and AI infrastructure solutions.

What are the strategic goals for Lyken.AI under the new leadership?

Under Krack's leadership, Lyken.AI aims to expand its platform, scale infrastructure footprint across Canada and North America, deepen partner ecosystem, and accelerate revenue growth.