Alset Capital Inc. Investee Company Cedarcross Technologies Announces Nvidia AI Server Agreement, and Signs C$2.3 Million First H100 Server Distribution Transaction

Alset Capital Inc. Investee Company Cedarcross Technologies Announces Nvidia AI Server Agreement, and Signs C$2.3 Million First H100 Server Distribution Transaction

News Release Highlights:

  • Cedarcross Technologies, Alset investee company, has entered into a distribution agreement with Earthmade Computer, an Authorized Distributor of Super Micro Computer, to provide AI companies with access to Nvidia H100 servers
  • Cedarcross Technologies achieves significant milestone closing its first distribution transaction with Ceti AI for total revenue consideration of CAD$2.3 million

VANCOUVER, BC / ACCESSWIRE / April 22, 2024 / Alset Capital Inc. (TSXV:KSUM)(FSE:1R60, WKN:A3ESVQ)("Alset" or the "Company") is pleased to announce that its investee company, Cedarcross International Technologies Inc. ("Cedarcross Technologies"), has signed a Distribution Agreement (the "Agreement"), in addition to the Supply Agreement announced on April 4th, with CoinDigger DBA Earthmade Computer Corp. ("Earthmade"). This Agreement, in addition to the elements of the Supply Agreement, now also enables Cedarcross Technologies to distribute Nvidia GPU High-Performance Computing (HPC) servers, and to receive assistance from Earthmade in obtaining hardware allocation from Super Micro Computer, Inc. (NASDAQ:SMCI) for the distribution of Nvidia GPU servers. Alset has also entered into a HPC server purchase agreement with Big Energy Investments Inc., DBA Ceti AI ("Ceti AI"). The Agreement involves the sale of five (5) Nvidia H100 HGX 8GPU servers that shall be sourced by Cedarcross Technologies prior to the sale. Such sale will generate Cedarcross Technologies approximately CAD$2.3M in gross revenue plus applicable taxes. Cedarcross Technologies intends to leverage this opportunity to purchase its first H100 servers from Super Micro and/or other server manufacturers, via Earthmade.

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.

Securing this distribution agreement allows for the distribution of Nvidia GPU HPC servers from Super Micro Computer, Inc. (NASDAQ:SMCI), and other server manufacturers. This partnership opens up an additional business vertical for Cedarcross Technologies in addition to its compute leasing business vertical. Cedarcross Technologies aims to demonstrate the valuable relationships such as this to obtain HPC hardware at competitive prices and expedited lead times. The Server Purchase Agreement is a testament to the demand in the market for Cedarcross Technologies to service this market, and Cedarcross Technologies aims to identity similar transactions in the future.

"'This transaction with Ceti AI represents a significant milestone for Cedarcross Technologies," said Morgan Good, CEO of Alset. "It not only enhances their revenue streams, but also reinforces their market position as a leader in supplying high-performance computing GPU servers. Alset is committed to supporting Cedarcross Technologies as it continues to expand and excel on its business model."

Agreement Payment Terms

The total contract value for the HPC servers is CAD$2.3 million + GST, with the following terms:

  • Ceti AI will pay a deposit of CAD$140K + GST within two (2) business days from the execution date of the Agreement (the "Effective Date").
  • An additional CAD$1.01M + GST will be paid within fourteen (14) days from the Effective Date; and
  • The balance of CAD$1.15M + GST is due seven (7) days after the servers are received and accepted by Ceti AI, scheduled for no earlier than May 17th, 2024.

The aggregate return for Cedarcross Technologies is expected to be up to CAD$240K subject to ordinary course chargebacks, closing costs including shipping and other associated expenses.

Read the Full Release

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