Alset AI Extends Cloud Compute Services Contract with Multinational Tech Company
News related to:Alset AI Ventures Inc · 2 min read
Alset AI Ventures Inc. has extended its cloud computing services agreement with a leading multinational technology and telecommunications company, securing a contract worth approximately C$580,000. The extension will run from August 25, 2026, through March 31, 2027.
This news follows an earlier update in May 2026, which indicated that the company was continuing a customer relationship that began in February 2026. According to Alset AI, the new purchase orders reflect the ongoing success of the service relationship and further solidify Lyken.AI's role as a reliable provider of cloud compute services.
Lyken.AI, a 90.1%-owned subsidiary of Alset AI Ventures Inc., provides access to outsourced cloud compute server capacity, along with technical coordination and support services. The company is working towards developing an integrated Platform-as-a-Service offering that includes managed compute, server and token optimization, secure storage, private low-latency networking, and enterprise deployment support.
Alset AI expects a gross margin of approximately 5% from the services covered by the current purchase orders, before accounting for corporate overhead, administrative expenses, and other general issuer costs. However, the company notes that this expected margin may not be sufficient to cover all corporate and administrative costs allocated to Lyken's operations.
The extension of the contract is seen as a positive indicator of the growing demand for cloud computing services, particularly in the technology and telecommunications sector. It also underscores the ongoing importance of robust cloud infrastructure to support data processing and storage needs.
Alset AI Ventures Inc. continues to focus on advancing innovation through strategic investment and cloud computing solutions. The company's goal is to provide investors with diversified exposure to emerging applications and infrastructure that enable advancements in AI technologies.
With the extended contract, Lyken.AI aims to build on its existing track record and strengthen its position in the cloud computing market. The company remains committed to developing a comprehensive Platform-as-a-Service offering that can meet the evolving needs of its customers.
Overall, the extension of the contract is a significant milestone for both Alset AI and Lyken.AI, as it ensures continued collaboration and support for the company's strategic growth initiatives.