Alset AI's Lyken.AI Secures Cloud Compute Services Purchase Order from Leading Multinational Technology and Telecommunications Company

Rhea-AI Summary

Alset AI (OTC:GPUSF) announced that Cedarcross Technologies' flagship Lyken.AI secured a cloud compute services purchase order dated February 2, 2026 from a leading multinational technology and telecommunications company.

The initial three-month order is valued at ~CAD$250,000 and the company expects quarterly renewals in 2026, implying ~CAD$1 million of annualized recurring revenue and a new recurring revenue base.

Positive

• Initial order valued at CAD$250,000 for three months
• Annualized recurring revenue expected at approximately CAD$1 million
• Client intent to renew quarterly through 2026 provides revenue visibility

Negative

• Short initial term (three months) creates renewal risk despite stated intent
• Concentration risk from reliance on a single large client for new recurring revenue

Expected to Generate $1 Million of Recurring Revenue on an Annualized Basis

VANCOUVER, BRITISH COLUMBIA / ACCESS Newswire / February 3, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTC:GPUSF)(FSE:1R60, WKN:A40M0J) ("Alset AI" or the "Company"), an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions, is pleased to announce that Cedarcross Technologies Inc., operating under the brand Lyken.AI ("Lyken.AI"), its flagship AI business, has secured a cloud compute services purchase order dated February 2, 2026 with an initial three-month order from a leading multinational technology and telecommunications company.

The initial three-month purchase order is valued at approximately CAD$250,000. This engagement marks Lyken.AI's entry into recurring commercial revenue generation for its cloud compute capabilities and underscores a potential for strong and growing demand for its full-service AI solutions. The Company expects the client to renew every three months, with the client indicating clear intent to renew quarterly throughout 2026. This is expected to generate approximately CAD$1 million in annualized revenue for Lyken.AI, providing a stable recurring revenue base. Lyken.AI anticipates continued revenue growth in this client relationship over time.

"We are thrilled to secure this strategic client win with a multinational technology and telecommunications leader," said Kurtis Krack, President of Lyken.AI. "This recurring contract marks the beginning of meaningful revenue scaling for Lyken.AI, validating market demand for our full-service model that combines end-to-end cloud compute services with tailored AI deployment. This engagement underscores our confidence in our ability to grow."

For more information about Lyken.AI, to explore customer or partnership opportunities, or to schedule a consultation, please visit https://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 may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company, including, but not limited to, statements with respect to the recurring revenues; future purchase orders for similar or the same services; revenue targets; the Company's ability to leverage Lyken.AI's vendor ecosystem and partner relationships; and the strategic direction and business plans of the Company. 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

What is the value of the Lyken.AI cloud compute purchase order announced by Alset AI (GPUSF)?

The initial three-month purchase order is valued at approximately CAD$250,000, providing near-term revenue. According to the company, the client indicated intent to renew quarterly, implying an expected CAD$1 million annualized recurring revenue run‑rate if renewals occur as stated.

How does the February 2, 2026 Lyken.AI deal affect Alset AI (GPUSF) revenue outlook?

This engagement introduces recurring commercial revenue with an expected CAD$1 million annualized run‑rate, improving revenue visibility. According to the company, renewals every three months through 2026 are expected, forming a stable base for future scaling of cloud compute services.

What are the renewal terms and duration implied for the Lyken.AI client under GPUSF's announcement?

The initial arrangement is a three-month purchase order with the client indicating clear intent to renew quarterly throughout 2026. According to the company, that renewal pattern is expected to generate approximately CAD$1 million on an annualized basis if maintained.

Does the Lyken.AI purchase order represent a one-time sale or recurring business for Alset AI (GPUSF)?

The company describes the transaction as the start of recurring commercial revenue, not a one-time sale. According to the company, the client signaled intent to renew quarterly, which is expected to convert the engagement into recurring revenue aggregating to ~CAD$1 million annually.

What risks should investors consider from the Lyken.AI CAD$250,000 order reported by Alset AI (GPUSF)?

Key risks include renewal uncertainty after the three‑month term and customer concentration from a single large client. According to the company, intent to renew exists, but actual renewals will determine whether the expected CAD$1 million annualized revenue materializes.