Alset Capital Inc. Announces $26 Million H100 Server Contract by Investee Company Cedarcross
News Release Highlights:
- Alset investee, Cedarcross signs $26 million Nvidia H100 GPU server contract.
- Cedarcross achieves approx. $28 million cumulative revenue year to date with its high-performance computing (“HPC”) server distribution business vertical alone.
- Nvidia’s H100 Servers are used in “transformational AI Training”, offering up to “7x higher performance for High Performance Computing applications.”1
VANCOUVER, British Columbia – May 16, 2024 – Alset Capital Inc. (TSXV:KSUM) (OTC:ALSCF) (FSE:1R60, WKN:A3ESVQ) (“Alset” or the “Company”) is pleased to announce that its investee company, Cedarcross International Technologies Inc. (“Cedarcross”), has signed an agreement with an arm’s length counterparty to distribute 64 Nvidia H100 HGX 8GPU servers, which generates $26 million in revenue for Cedarcross.
Following Cedarcross’ initial distribution agreement announced on April 22, 2024, this agreement marks a significant advancement in Cedarcross' distribution capabilities within the high-performance computing (HPC) server market. Cedarcross has now secured cumulative revenue year to date of approximately $28 million through its HPC server distribution business vertical alone. These agreements underscore the robust demand and strategic market positioning of Cedarcross in the HPC landscape. Leveraging key industry partnerships, including with Earthmade Computer Corp., an authorized distributor of Super Micro Computer, Inc. (NASDAQ:SMCI), Cedarcross continues to demonstrate its ability to secure competitive pricing and expedited lead times for highly sought-after Nvidia H100 GPU HPC servers.
"This deal represents a significant milestone for Cedarcross," said Morgan Good, CEO of Alset. "It substantially increases their revenue, and highlights their strong partnerships, which provide access to high-performance computing Nvidia GPU servers for both in-house use and third parties. Additionally, this distribution vertical enhances their existing compute leasing business unit, fostering diversity in their offerings and deeper market penetration."
The estimated gross margin from this agreement will be approximately $2.3 million.
