AI Stock News Bite – Alset Capital Inc. (TSXV: KSUM.V) Gains on News of Supply Agreement with AI Leaders

April 4, 2024 ( Newswire) ( AI Stock News Bite – Alset Capital Inc. (TSXV: KSUM) (FSE: 1R60, WKN: A3ESVQ), a company aiming to be a pure-play pubco operator of AI specialized computing infrastructure is trading up on news. The stock is trading at 0.4400, up 0.0200 or 4.76% on the TSXV with a morning high of $0.45.

Alset announced today that its investee company, Cedarcross International Technologies Inc., has entered into a Supply Agreement with CoinDigger DBA Earthmade Computer Corp. This Agreement grants Cedarcross the authority to engage directly with Super Micro Computer, Inc. (NASDAQ: SMCI) for the acquisition of Nvidia GPU High Performance Computing (HPC) Hardware.

Super Micro Computer, Inc., a global technology leader committed to delivering first-to-market innovation for Enterprise, Cloud, AI, Metaverse, and 5G Telco/Edge IT Infrastructure. Super Micro Computer, Inc. is renowned for delivering one of the broadest selections of Nvidia-Certified systems providing the most performance and efficiency from small enterprises to massive, unified AI training clusters with the new Nvidia H100 and H200 Tensor Core GPUs.1

The surge in demand for Nvidia GPU HPC hardware2 has underscored heightened costs and extended delivery timelines. Through this strategic alliance, Cedarcross secures unique access to Nvidia HPC hardware at competitive price points, while effectively mitigating lead time challenges. This enables Cedarcross to fortify its position in the market as it endeavors to expand its Nvidia HPC hardware fleet, bolstering scalability and competitiveness.

“We are very enthusiastic about Cedarcross’s strategic collaboration with Earthmade to purchase Nvidia HPC hardware directly from Super Micro Computer, Inc.,” commented Morgan Good, CEO of Alset. “This Agreement not only ensures the seamless procurement of vital AI computing hardware but also solidifies Cedarcross’s competitive positioning in the industry.”

“This Agreement is a testament to our commitment to providing HPC AI hardware solutions,” said Greg Lui, CEO of Earthmade. “By facilitating Cedarcross’s access to Nvidia’s GPU HPC hardware, we are not only strengthening our relationship with Alset and Cedarcross but also reinforcing our position in the AI computing supply chain. We look forward to the innovative advancements that Cedarcross will achieve with this high-performance computing power.”

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