Alset Capital Inc. Announces AI GPU Contract with a $91.7M Option Signed by Investee Company Cedarcross

News Release Highlights:

• Alset investee Cedarcross signs Nvidia H100 GPU server contract for an initial three (3) servers (for a purchase price of $1.37 million), with the customer having an option to acquire an additional 200 servers (for a purchase price of $91.7 million) valid until September 30, 2024.
• Cedarcross achieves approx. $29.7 million cumulative revenue year to date with its high-performance computing ("HPC") server distribution business vertical alone.
• Nvidia's H100 GPU Servers are used in "Transformational AI Training", offering up to "7x higher performance for High Performance Computing applications."¹

VANCOUVER, BC / ACCESSWIRE / June 13, 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, Big Energy Investments Inc., DBA Ceti AI ("Ceti AI") to distribute three (3) Nvidia H100 HGX 8GPU servers, which is anticipated to generate $1.37 million in revenue for Cedarcross, with an option for the counterparty to acquire up to 200 H100 HGX 8GPU servers, which if exercised would generate $91.7 million in revenue (the "Transaction").

Following Cedarcross' two previously announced distribution agreements announced on April 22, 2024 and May 16, 2024, this agreement marks an important advancement in Cedarcross' distribution business within the high-performance computing (HPC) server market. Cedarcross has now secured cumulative revenue year to date of approximately $29.7 million through its HPC server distribution business vertical alone. These distribution agreements underscore the significant demand and strategic market positioning of Cedarcross in the HPC landscape.

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