Vancouver, British Columbia--(Newsfile Corp. - April 4, 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"), has entered into a Supply Agreement (the "Agreement") with CoinDigger DBA Earthmade Computer Corp. ("Earthmade"). This Agreement grants Cedarcross the authority to engage directly with Super Micro Computer, Inc. (NASDAQ: SMCI) for the acquisition of Nvidia GPU High Performance Computing (HPC) Hardware.

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.1

The surge in demand for Nvidia GPU HPC hardware2 has underscored heightened costs and extended delivery timelines. Through this strategic alliance, Cedarcross secures unique access to Nvidia HPC hardware at competitive price points, while effectively mitigating lead time challenges. This enables Cedarcross to fortify its position in the market as it endeavors to expand its Nvidia HPC hardware fleet, bolstering scalability and competitiveness.

"We are very enthusiastic about Cedarcross's strategic collaboration with Earthmade to purchase Nvidia HPC hardware directly from Super Micro Computer, Inc.," commented Morgan Good, CEO of Alset. "This Agreement not only ensures the seamless procurement of vital AI computing hardware but also solidifies Cedarcross's competitive positioning in the industry."

"This Agreement is a testament to our commitment to providing HPC AI hardware solutions," said Greg Lui, CEO of Earthmade. "By facilitating Cedarcross's access to Nvidia's GPU HPC hardware, we are not only strengthening our relationship with Alset and Cedarcross but also reinforcing our position in the AI computing supply chain. We look forward to the innovative advancements that Cedarcross will achieve with this high-performance computing power."

The commercial terms of the Agreement are confidential.

1 Super Micro Computer

2 Tom's Hardware

On behalf of Alset Capital Inc.

"Morgan Good"

Morgan Good
Chief Executive Officer

About Alset Capital Inc.

Alset Capital Inc. is an investment issuer that is focused on investment in diversified industries such as technology, healthcare, industrial, special situations, operating businesses through both debt and equity using cash resources or shares in its capital. The Company is led by an experienced, entrepreneurial group of executives having a diverse industry and capital markets background.

Alset Capital Inc.'s investment portfolio comprises 49% ownership of Cedarcross International Technologies Inc. and 49% ownership of Vertex AI Ventures Inc.

About Cedarcross International Technologies Inc.

Cedarcross is an Artificial Intelligence cloud computing provider, with a vision of becoming one of Canada's largest AI compute providers. The Company is dedicated to democratizing access to cutting-edge AI computing, offering access to the world's fastest AI servers powered by Nvidia's H100 HGX 8GPU Servers. Focused on leasing compute resources to enterprise clients, Cedarcross anticipates significant revenue growth.

For further information about Alset Capital Inc., please contact:

Morgan Good, CEO and Director
T: 604.715.4751
E: morgan@alsetai.com

Cautionary Note regarding Forward-Looking Statements

Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the intended use of the Loan, the anticipated growth of the global cloud AI market and the review and acceptance of the TSX Venture Exchange. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-Looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-Looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Neither 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.

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204269