Alset AI names new CFO, reports portfolio value rise

Alset AI Ventures Inc. (TSXV: GPUS)(OTCQB: GPUSF) announced the appointment of Mitchell Jackman as Chief Financial Officer, effective immediately, succeeding Jonathan Yan, who resigned from the role.

Jackman has more than 10 years of experience in management and financial consulting for public issuers. He is a founding partner of Cavalry Advisory Group and a Chartered Professional Accountant and member of the Chartered Professional Accountants of British Columbia.

According to a company press release, Alset's investment portfolio had a carrying value of $8,824,551 at June 30, 2026, up 164.8% from $3,333,048 at September 30, 2025. Shareholders' equity rose 67.9% to $7,365,273 over the same period. The company noted that a substantial portion of the increase relates to an unrealized, non-cash revaluation of Lyken.AI, and that there is no assurance any investment will be realized at its carrying value.

For the three months ended June 30, 2026, Alset reported income of $3,606,599, compared with a loss of $4,288,289 in the same quarter of the prior year. The result included a $4,109,577 net investment gain described as primarily unrealized and non-cash. Quarterly general expenses fell 59.6% year over year to $526,405.

Lyken.AI, Alset's 90.1%-owned cloud compute subsidiary, received purchase orders totaling approximately $580,000 to extend services for a multinational technology and telecommunications client through March 31, 2027. The company estimates gross margin from those services at approximately 5% before corporate overhead, subject to no material changes in hosting rates or service scope.

Alset also completed the sale of a 9.9% interest in Lyken to Nasdaq-listed FingerMotion in exchange for 1,674,480 FingerMotion common shares, with consideration based on US$500,000. No cash changed hands.

The company said it plans to host an investor day in the first quarter of 2027, with details to be announced once finalized. An updated investor presentation has been posted to the company's website.

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