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June 13, 2024

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ALSET Capital (KSUM.V) appoints former Google, Panasonic, Huawei AI Executive

ALSET Capital Inc. (KSUM.V) is an investment issuer that is focused on investment in diversified industries such as technology, healthcare, industrial, special situations, operating businesses through both debt and equity using cash resources or shares in its capital. ALSET Capital is uniquely positioned in the burgeoning AI industry through its 49.0% stake in Cedarcross International Technologies Inc., a company harnessing the power of NVIDIA’s cutting-edge H100 GPUs. This investment places ALSET at the forefront of the AI cloud computing hardware sector, offering significant growth potential in a market driven by insatiable demand for advanced computational capabilities.

ALSET, through Cedarcross, aims to democratize access to these powerful computing resources by leasing them to enterprise clients, a business model that not only meets the growing demand for AI computing but also expects high profitability with gross margins on its compute leasing business unit projected at approximately 80%, and a hardware payback period of about 1.5 years.

Today, the Company announced the formation of its Artificial Intelligence Advisory Board, alongside the appointments of Willy Sun and Michael Gord to its AI Advisory Board.

The AI Advisory Board will assist the Company’s board of directors and executive officers to provide strategic guidance, expert insights, and oversight on the company’s AI initiatives.

“The appointment of Willy Sun and Michael Gord to our AI Advisory Board marks a significant milestone in Alset’s journey towards positioning its investment portfolio to become leaders in AI computing infrastructure and data management solutions,” said Morgan Good, CEO of Alset. “Their combined expertise and leadership will be instrumental in guiding our strategic initiatives and driving innovation in the rapidly evolving field of artificial intelligence.”

Willy Sun, a seasoned executive with a distinguished background in artificial intelligence (AI) from leading technology firms including Google LLC, Panasonic Holdings Corporation, and Huawei Technologies Co., Ltd., brings extensive experience in AI research and development. Willy’s visionary leadership positions him as an ideal candidate to guide Alset in its AI initiatives.

As the Chief Engineer for AI development at Huawei Technologies’ 2012 Laboratory and an AI Scientist at Panasonic, Willy spearheaded initiatives in deep learning applications for speech processing, dialogue systems, and interactive interface design. His innovations in real-time monitoring of sensitive content in digital media have set new industry standards for safety and compliance.

Michael Gord, a serial entrepreneur and investor in Web 3.0, bringing his extensive experience in the digital asset space. Michael has successfully exited three startups and facilitated four acquisitions. He is an investor with over 70 portfolio companies, including four that have grown from seed stage to unicorn status.

Michael is the co-founder & CEO of the GDA Group of Companies, which are focused across the digital asset capital market and include GDA Capital, Acronym Asset Management, NFT BAZL, and Life DeFi. He is also a founder and board member of Metaverse Group, a metaverse technology company that was acquired by Tokens.com and subsequently by StoryFire, a SocialFi application with over 2.5 million users.

He also founded Bitcoin Canada, served on the board of the Bitcoin Association of Canada, which was acquired by the Chamber of Digital Commerce, and played a key role in the international expansion of the Blockchain Education Network. Michael was also the first enterprise blockchain developer at TD Bank.

For more information on ALSET Capital and the investment opportunity, be sure to check out Chris Parry’s recent article here.

TSXV_DLY:KSUM Chart Image by Uncharted-FX

The stock has been in a new uptrend beginning in February 2024. We have our first higher low confirmed at $0.225. Now, the stock is pulling back after printing higher highs. We are now contained within a flag pattern. Await for a daily candle close above the upper portion of this trendline to confirm a breakout. A close below $0.225 would nullify the upwards momentum.

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