Alset AI Ventures Inc. has provided an operational update on its portfolio investment CHIP Data Centers Inc., disclosing that the AI-focused data centre developer now reports 30 megawatts of operating, in construction, and signed capacity spread across five named sites in Ontario, Ohio and Texas, with a global enterprise customer committed to the first 20 megawatts of planned capacity at two upcoming facilities in the Waterloo region of Ontario.

Scale and Site Breakdown

According to information provided by CHIP's management and disclosed by Alset AI, CHIP currently has 4 megawatts of capacity in active operation, with an additional 26 megawatts either under construction or signed across its broader site portfolio.

The company lists five named locations spanning Ontario, Ohio, and Texas, representing what Alset describes as a continued expansion of the developer's operating and development footprint since its last portfolio update.

Alset AI trades on the TSX Venture Exchange under the symbol GPUS, on the OTCQB under GPUSF, and on the Frankfurt Stock Exchange under the ticker 1R61.

The Vancouver-based company positions itself as an artificial intelligence venture investment platform with exposure to companies across the AI value chain, including infrastructure providers such as CHIP.

Alset noted in the release that it has not independently verified the representations made by CHIP's management regarding the operational figures and customer commitments disclosed in the update.

Cash Flow and Operating Model

CHIP reported that its first significant cash flow commenced in July 2026, coinciding with what the company describes as a lean corporate structure.

The update emphasized CHIP's modular development model, which the company says is designed to shorten the timeline between securing site control and reaching commercial operation, while also supporting scalable, multi-year build-outs at individual locations.

The company said it continues to prioritize sites with secured or accessible power supplies and near-term commercialization potential, characteristics it views as central to its asset-light operating strategy.

CEO Commentary on Strategic Progress

Adam Ingrao, Chief Executive Officer of Alset AI, addressed the update directly, framing the CHIP portfolio company's progress in terms of commercial validation and capital discipline.

Ingrao said the platform now represents five sites and 30 megawatts of operating, in-construction, and signed capacity, and called the enterprise customer commitment for the first 20 megawatts at the Waterloo sites particularly meaningful.

"Securing a global enterprise for the first 20 MW at the next two Waterloo sites is particularly meaningful because it provides strong commercial validation for the next phase of expansion," Ingrao said in the release.

"With an operating site, positive cash flow and a disciplined strategy, CHIP is demonstrating that AI infrastructure can be advanced with speed, focus and capital discipline," Ingrao added that Alset views the progress as strengthening the parent company's exposure to what it characterizes as growing demand for AI-ready power and data centre capacity across North America.

Priorities for the Year Ahead

CHIP outlined three primary areas of focus for the coming 12 months. The first is advancing the build-out of the two additional Waterloo-region data centre sites now under a master services agreement with the unnamed global enterprise customer.

The second is progressing the acquisition and development of the company's first U.S. site, though no specific location or timeline was given in the release.

The third is the selective advancement of other locations based on power availability, customer demand, and each site's potential to reach commercial operation.

CHIP describes its facilities as purpose-built for high-density artificial intelligence and high-performance computing workloads, with design features intended to deliver the power density, cooling capacity, connectivity, enterprise-grade security and deployment speed required by technology customers operating in the current AI infrastructure market.