Alpha Compute Closes $32.2 Million Revenue Contract with AI Lab Customer

Leading AI Research Lab signs two-year compute off-take agreement for the ALPHA-01 Enterprise-Scale NVIDIA B200 Deployment of 504 GPUs in Canadian Data Center

ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS, May 12, 2026 (GLOBE NEWSWIRE) -- Alpha Compute Corp. (“Alpha Compute” or the “Company”), a pioneering technology leader in AI GPU-as-a-service (GPUaaS) and AI Confidential Compute, today announced it has closed a definitive lease agreement with a leading frontier artificial intelligence laboratory for the Company’s inaugural enterprise-scale NVIDIA B200 GPU deployment located in its Canadian data center.  

The two-year agreement has a total contract value of $32.2 million and delivers $16.1 million in Annual Recurring Revenue (ARR) to Alpha Compute, with an expected upfront payment of $7.5 million securing the reservation of compute capacity for two years. 

The agreement covers a dedicated cluster of 504 NVIDIA B200 GPUs — one of the most advanced GPU architectures available for large-scale AI training and inference workloads — providing the unnamed frontier AI laboratory with exclusive, high-performance compute access to accelerate its next-generation model development. The identity of the tenant, a recognized leader in frontier AI research, has not been disclosed for privacy. Alpha Compute expects to provide further details regarding the partnership as contractually permitted. 

"This contract is a defining moment for Alpha Compute, confirming our belief that there is a massive global appetite for sovereign, specialized AI infrastructure," stated Alpha Compute CEO Brittany Kaiser. "Finalizing a $32.2 million deal with a leading AI research firm is a testament to our technical excellence, our robust Canadian data center presence, and the trust our clients have in our enterprise-grade delivery. We are establishing the foundation for the future AI economy, and this partnership is a clear signal of our success." 

Yury Mitin, Chief Business Development Officer commented, “The 504-GPU B200 deployment represents Alpha Compute’s first enterprise-scale customer agreement and marks a critical inflection point in the Company’s commercial strategy. The NVIDIA B200 GPU delivers unprecedented performance for AI and HPC workloads, making it the preferred architecture for frontier model training at scale.” 

With $16.1 million in annual revenue now secured under contract, Alpha Compute is actively expanding its sales pipeline of enterprise compute agreements with AI laboratories, sovereign entities, and enterprise customers seeking dedicated, high-performance GPU infrastructure outside of traditional hyperscaler environments. 

TRANSACTION HIGHLIGHTS
Total Contract Value:  $32,200,000
Annual Recurring Revenue:  $16,100,000
Upfront Payment:  $7,500,000
GPU Deployment:  504 × NVIDIA B200 Tensor Core GPUs
Data Center Location:  Canada
Energy: 100% Hydroelectric
Power Agreement Term:  Two (2) Years
Tenant:  Unnamed Leading Frontier AI Laboratory 

Alpha Compute continues to evaluate additional GPU procurement and leasing opportunities across its growing portfolio of data center partnerships in North America and Europe. The Company’s infrastructure strategy is designed to serve the rapidly expanding demand for dedicated compute from AI research organizations, national sovereign AI initiatives, and enterprise customers requiring privacy-centric compute solutions. 

About Alpha Compute Corp.
Alpha Compute Corp. (Nasdaq: ALP) is a pioneering leader in AI GPU-as-a-service (GPUaaS) and AI Confidential Compute. Alpha Compute builds and operates businesses at the intersection of confidential computing, artificial intelligence, and decentralized AI. The Company’s GPU assets deliver privacy-preserving computation to partners and applications including Telegram, Animoca Brands, GAMEE, and Midnight Network. Alpha Compute is incorporated in the British Virgin Islands.  

Visit https://www.alphacompute.ai/  

Forward-Looking Statements 
This press release contains forward-looking statements within the meaning of applicable securities laws. All statements other than statements of historical fact, including those preceded by, followed by, or incorporating words such as "believes," "expects," "anticipates," "intends," "estimates," "plans," "may," "will," "potential," "continues," or similar expressions are forward-looking statements. 

Forward-looking statements in this release include, without limitation: the expected timing and go-live dates for Alpha Compute's GPU cluster deployments; projected revenue from the Company's AI infrastructure buildout; anticipated benefits from the Company's confidential compute partnerships and infrastructure expansion; and the Company's broader business strategy and operational plans. 

These statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied, including: the timing and progress of the Company's strategic initiatives; reliance on third-party vendors and partners; the ability to secure additional financing; uncertainty around the Company's investments and legacy business; risks related to technology platforms and ecosystems; and general market and economic conditions. A more complete discussion of these risks is set forth under "Item 3 - Key Information - Risk Factors" in the Company's Annual Report on Form 20-F for the year ended March 31, 2025, and in the Company's Forms 6-K filed with the Securities and Exchange Commission on September 3, 2025 and January 13, 2026. 

Undue reliance should not be placed on these forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release, and the Company undertakes no obligation to update or revise them publicly, except as required by law. 

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