Alset AI Announces Extension of Lyken.AI Cloud Compute Services Contract with Multinational Technology and Telecommunications Company

Purchase orders totaling approximately C$580,000 extend cloud compute services from August 25, 2026 through March 31, 2027

VANCOUVER, BC / ACCESS Newswire / September 8, 2026 / Alset AI Ventures Inc. (TSXV:GPUS)(OTCQB:GPUSF)(FSE:1R61, WKN:A40M0J) ("Alset AI", "Alset" or the "Company"), an artificial intelligence ("AI") venture company advancing innovation through strategic investment and cloud computing solutions, is pleased to announce that its 90.1%-owned cloud compute business, Lyken AI Computing Inc., operating as Lyken.AI ("Lyken"), has received purchase orders with an aggregate value of approximately C$580,000 that extend services under its previously announced cloud compute services agreement with a leading multinational technology and telecommunications company from August 25, 2026 through March 31, 2027.

The extension follows the Company's May 14, 2026 update regarding the continuation of the customer relationship, which commenced in February 2026. The new purchase orders extend the service relationship through March 31, 2027 and further advance Lyken's operating track record across successive service periods.

The customer relationship operates through purchase orders issued for defined service periods. The current purchase orders are binding for the period from August 25, 2026 through March 31, 2027; however, the customer has no binding obligation to issue additional purchase orders or continue the relationship beyond that period. There can be no assurance that additional purchase orders will be issued, that any future services will be provided on the same terms, or that any future revenue, margin or profitability will be achieved.

Lyken provides access to outsourced cloud compute server capacity, together with related technical coordination and support services. The extension reflects the continuation of those services under the existing customer relationship and provides Lyken with contracted activity through March 31, 2027.

Based on current expected third-party hosting, commission and service costs, the Company expects gross margin from the services covered by the purchase orders to be approximately 5%, before corporate overhead, administrative expenses and other general issuer expenses. The expected gross margin may not be sufficient to cover all corporate and administrative costs allocated to Lyken's operations.

About Lyken.AI

Lyken.AI is Alset AI's cloud compute business and is working toward developing an integrated Platform-as-a-Service offering that is intended to span managed compute, server and token optimization, secure storage, private low-latency networking and enterprise deployment support. Lyken's model is intended to extend beyond infrastructure access through related technical coordination and support services. There is no assurance that Lyken will successfully develop or commercialize the planned Platform-as-a-Service offering. For more information, 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 contains certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") regarding the Company, including statements relating to the expected gross margin from the current purchase orders; Lyken's ability to provide cloud compute capacity, technical coordination and support services under the purchase orders; the continuation and performance of the customer relationship; the possibility and terms of future purchase orders; Lyken's ability to build a durable commercial operating track record; and the strategic direction and business plans of the Company. Forward-looking statements normally contain words such as "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "target", "continue" and similar terms. Forward-looking statements are not guarantees of future performance and are based on expectations, assumptions and other factors that management currently believes are reasonable. Actual results could differ materially as a result of risks and uncertainties, including customer purchasing decisions, customer concentration, changes in customer requirements, third-party hosting and service costs, equipment and compute-capacity availability, currency fluctuations, collection timing, service-level or performance issues, general economic conditions, and unforeseen events and developments. This list is not exhaustive. All forward-looking statements are expressly qualified by these cautionary statements and are made as of the date hereof. Except as required by applicable securities laws, Alset undertakes no obligation to update them. Additional risks are described in Alset's public filings available at www.sedarplus.ca.

Cautionary Note Regarding Future-Oriented Financial Information

This press release contains future-oriented financial information and financial outlook information (collectively, "FOFI") regarding the Company's expected gross margin from the current purchase orders. The FOFI is based on management's current assumptions, including expected third-party hosting, commission and service costs remaining consistent with recent periods, and is subject to the same risk factors, limitations and qualifications described above. The FOFI has been included to provide balanced disclosure regarding the expected financial contribution of the purchase orders and should not be used for any other purpose. There can be no assurance that the expected gross margin will be achieved, and actual results may differ materially. Readers are cautioned not to place undue reliance on the FOFI. Except as required by applicable law, the Company undertakes no obligation to update or revise the FOFI.

SOURCE: Alset AI Ventures Inc.

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