VANCOUVER, BC / ACCESS Newswire / May 14, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTCQB:GPUSD)(FSE:1R60)(WKN:A40M0J) ("Alset AI" or the "Company"), an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions, announces that its 100% owned Lyken.AI ("Lyken") has executed its first quarterly renewal under its previously announced cloud compute services agreement with a leading multinational technology and telecommunications company.
The renewal became effective May 6, 2026 and is structured as a three-month purchase order valued at approximately CAD$250,000. Based on current expected delivery costs, commissions and service charges, the Company expects net margin for the renewal to be approximately 5%. With the successful renewal now in place, Lyken.AI remains on track to generate approximately CAD$1 million in annualized recurring revenue from this client relationship, with the expectation of continued quarterly renewals throughout 2026. There is no guarantee that the customer will renew the agreement for any subsequent period, and the agreement does not contain any binding renewal obligation on the part of the customer.
Lyken provides access to outsourced cloud compute server capacity and related technical coordination and support services. The renewal reflects the continuation of services for the current quarterly period under the existing customer relationship.
For more information about Lyken.AI, to explore customer or partnership opportunities, or to schedule a consultation, please visit www.lyken.ai.
About Alset AI Ventures Inc.
Alset AI is an AI-focused venture investment platform dedicated to sourcing, funding, and developing companies across the artificial intelligence value chain. The Company seeks to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.
For further information about Alset AI Ventures Inc., please contact:
Investor Relations
Adam Ingrao
Chief Executive Officer
T: 236.312.6744
E: ir@alsetai.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note regarding Forward Looking Statements
This press release may contain certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company, including, but not limited to, statements with respect to the Company's expectation that Lyken.AI will generate approximately CAD$1 million in annualized recurring revenue from the client relationship; the expectation of continued quarterly renewals throughout 2026 and into 2027 and beyond; the Company's plans to expand its customer base, increase contract sizes, and further scale its recurring revenue model; and the strategic direction and business plans of the Company. Forward-looking statements normally contain words like "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this press release. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Alset AI's business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, and unforeseen events and developments. This list is not exhaustive of the factors that may affect the Company's forward-looking statements. Many of these factors are beyond the control of Alset AI. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Alset AI undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company's business are more fully discussed under the heading "Risks and Uncertainties" in its most recent Management's Discussion and Analysis and other disclosure documents available on SEDAR+ at www.sedarplus.ca.
Cautionary Note Regarding Future-Oriented Financial Information
This press release also contains certain future-oriented financial information and financial outlook information (collectively, "FOFI") regarding the Company's forecasted revenues and prospective results of operations from Lyken.AI's cloud compute and AI deployment services. Such FOFI is subject to the same assumptions, risk factors, limitations and qualifications as set forth in the above paragraphs. The FOFI involves known and unknown risks and uncertainties and while the Company believes there is reasonable basis for the FOFI, such target may not be met and actual results may vary and differ materially. FOFI contained in this press release was approved by management as of the date hereof and was included for the purpose of providing further information about the Company's anticipated future business operations and revenues. The Company and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments, and represents, to the best of management's knowledge and opinion, the Company's expected course of action with respect to the future of Lyken.AI. However, because this information is highly subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results, profitability or other measures of financial performance. The Company disclaims any intention or obligation to update or revise any FOFI contained in this press release, whether as a result of new information, future events or otherwise, unless required pursuant to applicable law. Readers are cautioned not to place undue reliance on the FOFI and to note that the FOFI contained in this press release should not be used for purposes other than for which it is disclosed herein. Risks and uncertainties as more fully discussed under the heading "Risks and Uncertainties" in the Company's most recent Management's Discussion and Analysis and other disclosure documents available on SEDAR+ at www.sedarplus.ca can have a significant impact on the FOFI included herein. The Company's actual results may differ from those disclosed in this press release.
SOURCE: Alset AI Ventures Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/alset-ai-announces-first-quarterly-renewal-of-lyken.ai-cloud-com-1166697
