- Generative AI Solutions (CSE:AICO), a top-performing artificial intelligence stock, signed an MOU to sell 85 million AI compute hours over the next five years to an arm’s-length third party in Silicon Valley
- Subsidiary MAI Cloud Solutions will provide the services for a fee of approximately $70,000 per month
- Generative AI Solutions is an artificial intelligence stock developing vertically integrated programs to redefine efficiency, productivity and user experience across multiple industries
- The artificial intelligence stock (CSE:AICO) is up by 200 per cent over the past year
Generative AI Solutions (CSE:AICO), a top-performing artificial intelligence stock, signed an MOU to sell 85 million AI compute hours over the next five years to an arm’s-length third party in Silicon Valley.
Subsidiary MAI Cloud Solutions will provide the services for a fee of approximately $70,000 per month. If the supply agreement is completed in full, MAI expects to receive $6 million in revenue at a gross margin of $3.5 million. Approximately $850,000 will be paid in the first year at a gross margin of $500,000.
The parties will now negotiate commercially reasonable terms to provide AI compute time through 2,000 GPUs, to be acquired over the next six months, which have the potential to provide about 17 million hours of AI compute time per year.
The MOU includes a two-year extension clause and represents a potential expansion of a purchase agreement announced in July.
Generative AI Solutions is an artificial intelligence stock developing vertically integrated programs to redefine efficiency, productivity and user experience across multiple industries.
Generative AI Solutions (CSE:AICO) last traded at $0.90 per share. The stock is up by 200 per cent over the past year.
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