CHIP reports five sites across North America, 20 MW committed to a global off-taker

VANCOUVER, BC / ACCESS Newswire / August 26, 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 provide an operational update on its portfolio investment, CHIP Data Centers Inc. ("CHIP"), a developer and operator of purpose-built, AI-ready data centres across North America.

Since Alset's previous update, CHIP has continued to expand its operating and development footprint while maintaining a disciplined, asset-light operating model. Based on information provided by CHIP's management, CHIP reports five named sites operating or in development across Ontario, Ohio and Texas, with 4 MW operating and an additional 26 MW in construction or signed, for a total of 30 MW across operating, in-construction and signed capacity.

Based on information provided by CHIP's management, CHIP has secured a global enterprise as the off-taker for its next two planned data-centre sites in the Waterloo region. The customer has committed to the first 20 MW of capacity and to additional expansion capacity developed at the sites. CHIP reports that a master services agreement has been executed, providing contracted customer support for the planned capacity rather than relying on non-binding demand indications. Alset has not independently verified these representations.

Operationally, CHIP reports that its first significant cash flow began this past July 2026 while maintaining a lean corporate structure. Its modular development model is designed to shorten the period from site control to commercial operation and support scalable, multi-year build-outs. CHIP continues to prioritize sites with secured or accessible power and near-term commercialization potential.

"CHIP is delivering the kind of measurable operating progress we want across the Alset portfolio," said Adam Ingrao, Chief Executive Officer of Alset AI. "The platform now represents five sites, 30 MW of operating, in-construction and signed capacity. 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. 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. We believe this progress meaningfully strengthens Alset's exposure to the growing demand for AI-ready power and data-centre capacity across North America."

Over the next 12 months, CHIP's priorities are to advance the build-out of the two additional Waterloo-region sites, progress the acquisition and development of its first U.S. site, and selectively advance other locations based on power availability, customer demand and their potential to reach commercial operation.

About CHIP Data Centers Inc.

CHIP Data Centers Inc. builds and operates next-generation, AI-ready data centres designed for high-density artificial intelligence and high-performance computing workloads. CHIP's modular facilities are designed to provide the power, cooling, connectivity, enterprise-grade security and deployment speed required by modern technology customers. For more information, please visit www.chipdatacenters.com.

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 CHIP's operating and development strategy; the planned build-out, expansion, commissioning and commercial operation of CHIP's data-centre sites; the expected scale and timing of operating, in-construction, signed and pipeline capacity; the customer commitment and anticipated off-take of the first 20 MW and additional expansion capacity at the two planned Waterloo-region sites; the continued execution and performance of the master services agreement; the proposed acquisition and timing of CHIP's first U.S. site; the advancement and prioritization of other locations; CHIP's ability to maintain positive cash flow and a lean operating model; the speed, scalability and capital efficiency of its modular development model; and the expected strategic benefits of Alset's exposure to CHIP.

Forward-looking statements normally contain words such as "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "plan", "potential", "believe", "target", "continue" and similar terms. The forward-looking statements in this release are based on certain material assumptions, including that CHIP will continue to have access to sufficient capital, power and site control to advance its development plans; that construction and commissioning timelines will proceed substantially as planned; that the off-taker will perform its obligations under the master services agreement; that required permits, interconnection and regulatory approvals will be obtained in a timely manner; that customer demand for AI-ready data-centre capacity will continue; and that general economic and market conditions will remain supportive. Such statements are also subject to risks and uncertainties, including that the information provided by CHIP's management on which this release is based may be incomplete, inaccurate or subject to change; that development sites may not be acquired, constructed, commissioned or operated as planned; stated capacity may be reduced, delayed or unavailable; the off-taker arrangement may be subject to conditions, modification or termination; customer demand or contemplated expansion may not materialize; CHIP may not obtain or maintain required site control, power, interconnection, permits, equipment, capital, personnel, contractors or other resources; costs and timelines may exceed expectations; the proposed U.S. site acquisition may not be completed within the anticipated period or at all; operating and cash-flow performance may not be sustained; earlier-stage pipeline opportunities may not become contracted or operating projects; and expected strategic benefits to Alset may not be realized.

Actual results may differ materially. Forward-looking statements are made as of the date hereof and are qualified by these cautionary statements. 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.

SOURCE: Alset AI Ventures Inc.