Alpha Compute secures $32.2 million AI compute contract and targets $21 million NTM revenue from GPU infrastructure and GAMEE acquisition

Alpha Compute (formerly AlphaTON Capital, ticker: ALP) signed a $32.2 million, two-year agreement with an AI research firm, generating $16.1 million of annual contracted revenue. ALPHA-01, a 504 NVIDIA B200 GPU cluster in Canada, is now live; ALPHA-02, a 576 B300 GPU cluster in Sweden, is targeted for 3Q26 deployment.

The company rebranded on April 20, 2026 from AlphaTON Capital to Alpha Compute, formalizing its shift to AI GPU-as-a-service (GPUaaS) and confidential compute infrastructure using hardware-level encryption and TEE-based confidential compute powered by Blackwell-generation GPUs.

ALP now projects $21 million NTM revenue, anchored by the AI lab contract and expected contribution from the pending GAMEE acquisition, which has 119 million registered users and reported 56% y/y 1Q revenue growth. A $200+ million qualified sales pipeline spans AI research, enterprise, and sovereign compute customers.

ALP trades at 0.41x NTM sales compared with peer average of 11.85x.