iPower receives non-binding five-year AI proposal

The proposed fleet could reach approximately 396 AI computing units during 2027, while commercial terms remain non-binding pending a definitive services agreement.

Rhea-AI Filing Summary

iPower Inc. said its wholly owned subsidiary, iPower AI LLC, received a customer-signed, non-binding letter of intent for a five-year AI equipment services and management relationship. The customer identified an initial fleet of 48 AI computing equipment units and expects to expand to approximately 396 units in total during 2027. At the proposed fee of $4,608 per unit per month, the full build-out would represent up to approximately $1.82 million in monthly service fees, or up to $21.90 million on an annualized basis.

The initial 48 units would represent approximately $2.65 million in annualized fees, or $13.27 million if all 48 remain billable for the full 60-month cooperation period. iPower AI LLC would provide or coordinate equipment operations, monitoring, maintenance, technical support and data center coordination. The LOI’s commercial terms are non-binding and subject to a definitive services agreement. The fee illustrations assume the stated units remain billable at the proposed rate throughout each illustrated period; they are not committed revenue, backlog, profit or 2027 revenue guidance. Actual fees depend on deployment timing and final terms.

8-K Event Classification

2 items: 8.01, 9.01

2 items

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Proposed relationship term: Five years Initial fleet: 48 AI computing equipment units Expected total fleet: Approximately 396 units +5 more

8 metrics

Proposed relationship term Five years AI equipment services and management relationship

Initial fleet 48 AI computing equipment units Units identified by the customer

Expected total fleet Approximately 396 units Expected during 2027

Proposed service fee $4,608 per unit per month Proposed fee for the AI equipment services relationship

Potential monthly service fees Up to approximately $1.82 million Assuming the full build-out at the proposed fee

Potential annualized service fees Up to $21.90 million For the full build-out, on an annualized basis for five years

Initial fleet annualized fees Approximately $2.65 million For the initial 48 units

Initial fleet fees over 60 months $13.27 million If all 48 units remain billable for the full 60-month cooperation period

Key Terms

non-binding letter of intent, annualized basis, billable, data center coordination

4 terms

non-binding letter of intent regulatory

"received a customer-signed, non-binding letter of intent"

A non-binding letter of intent is a preliminary document that outlines the main terms and expectations of a proposed transaction—such as a merger, acquisition, investment or partnership—without creating a legally enforceable obligation to complete the deal. Think of it as a written handshake or shopping list: it signals serious interest and sets the framework for negotiations and due diligence, which can move markets, but it does not guarantee the transaction will happen until a final, binding agreement is signed.

annualized basis financial

"$21.90 million on an annualized basis for five years"

Annualized basis means converting a return, rate, or growth observed over a shorter period into the equivalent over a full year, so different time spans can be compared directly. Think of it like measuring how many miles you’d drive in a year based on a week’s trips; investors use it to compare performance, interest rates, or growth, but it’s a projection and doesn’t guarantee the same pace will continue for the full year.

billable financial

"all 48 remain billable for the full 60-month cooperation period"

data center coordination technical

"technical support and data center coordination"

FAQ

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

How much could IPW’s proposed AI services relationship generate?

At the proposed fee of $4,608 per unit per month, a full build-out would represent up to approximately $1.82 million in monthly service fees, or up to $21.90 million on an annualized basis. The initial 48 units would represent approximately $2.65 million in annualized fees and $13.27 million if all 48 remain billable for the full 60-month cooperation period. These are fee illustrations, not committed revenue, backlog, profit or 2027 revenue guidance.

How many AI computing units does IPW’s customer expect to deploy?

The customer identified an initial fleet of 48 AI computing equipment units and expects to expand to approximately 396 units in total during 2027.

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

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Available on EDGAR 10/15/2026 - 09:30 AM EDT Accepted by SEC EDGAR 10/15/2026 - 09:30 AM EDT Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (date of earliest event reported): October 15, 2026

iPower Inc.

(Exact name of registrant as specified in its charter)

Nevada		001-40391		82-5144171
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

8798 9th Street

Rancho Cucamonga, CA 91730

(Address of Principal Executive Offices) (Zip Code)

(626) 863-7344

(Registrant’s Telephone Number, Including Area Code)

___________________________

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock $0.001 per share		IPW		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

On October 15, 2026, iPower Inc. (“iPower” or the “Company”) issued a press release announcing that its wholly owned subsidiary, iPower AI LLC, has received a customer-signed, non-binding letter of intent for a five-year AI equipment services and management relationship. The proposed engagement marks a step forward in iPower’s transformation into an AI infrastructure and services company. A copy of the press release is furnished herewith as Exhibit 99.1.

The information in this Current Report on Form 8-K, including Exhibit 99.1 furnished herewith, is being furnished and shall not be deemed “filed” for any purpose of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such Section. The information in this Current Report on Form 8-K shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statement and Exhibits.

(d) Exhibits

Exhibit No.		Description
99.1		Press Release dated October 15, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	IPOWER, INC.
Dated: October 15, 2026
	By:	/s/ Chenlong Tan
	Name:	Chenlong Tan
	Title:	Chief Executive Officer

3

Exhibit 99.1

iPower Opens New AI Era with Five-Year Services LOI

Targeting $21.90 Million in Potential Annualized Services

Customer expansion plan contemplates growth from 48 to 396 AI computing units during 2027

Oct 15, 2026 — iPower Inc. (Nasdaq: IPW) (“iPower” or the “Company”) today announced that its wholly owned subsidiary, iPower AI LLC, has received a customer-signed, non-binding letter of intent for a five-year AI equipment services and management relationship. The proposed engagement marks a step forward in iPower’s transformation into an AI infrastructure and services company.

The customer has identified an initial fleet of 48 AI computing equipment units and expects to expand to approximately 396 units in total during 2027. At the proposed fee of $4,608 per unit per month, assuming the full build out, the target fleet would represent up to approximately $1.82 million in monthly service fees, or up to $21.90 million on an annualized basis for five years. The initial 48 units would represent approximately $2.65 million in annualized fees, or $13.27 million if all 48 remain billable for the full 60-month cooperation period.

“This is the opening of a new era for iPower,” said Lawrence Tan, Chief Executive Officer. “We are not simply adding AI to our existing business. We are working to make AI infrastructure and services a central driver of what iPower becomes. This proposed relationship puts a concrete operating model behind that direction: managing computing infrastructure for customers and building recurring service revenue as their deployments grow.”

iPower AI LLC would provide or coordinate equipment operations, monitoring, maintenance, technical support and data center coordination. The relationship is intended to support a scalable services business whose growth is not limited to equipment iPower owns.

The LOI’s commercial terms are non-binding and subject to a definitive services agreement between iPower AI LLC and the customer. Fee illustrations assume the stated units remain billable at the proposed rate throughout the illustrated period; they are not committed revenue, backlog, profit or 2027 revenue guidance. Actual fees would depend on deployment timing and final terms.

About iPower Inc.

iPower Inc. (Nasdaq: IPW) is a technology- and data-driven company executing a focused strategy at the intersection of AI infrastructure and real-world commerce. Building on its established e-commerce operations, technology platform and capital markets experience, the Company is expanding into AI infrastructure investments and related financing ecosystems.

Through targeted investments in digital assets, infrastructure financing protocols and other AI-related opportunities, iPower seeks to participate in the growth of the compute, data center and infrastructure layers that support artificial intelligence. Leveraging its operating experience, ecosystem relationships and capital markets access, iPower is building a scalable business designed to generate durable long-term value for stockholders.

For more information, please visit www.meetipower.com.

Forward-Looking Statements

All statements other than statements of historical fact in this press release are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the non-binding letter of intent, the proposed services relationship with this customer and future customers, the proposed initial deployment, anticipated term, potential expansion, contemplated contract value, equipment sourcing, financing, data center deployment, definitive agreements, potential lease revenue, customer demand and the Company’s AI infrastructure strategy. These statements involve known and unknown risks and uncertainties and are based on current expectations and projections. Actual results may differ materially from those set forth herein. The LOI is non-binding, material commercial terms have not been finalized, and there can be no assurance that definitive agreements will be executed or that the proposed initial transaction or any expansion will be completed. iPower undertakes no obligation to update forward-looking statements except as required by law. Investors are encouraged to review iPower’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Investor Relations Contact

IPW.IR@meetipower.com

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 PRESS RELEASE DATED OCTOBER 15, 2026 8.6 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB