LIXTE Biotechnology Holdings Inc. (NASDAQ: LIXT) announced a strategic transformation from a clinical-stage pharmaceutical company to an AI energy infrastructure equipment and services platform. The company said it will focus on meeting power demands of AI and hyperscale data centers.

Stuart D. Porter, founder and managing partner of Denham Capital Management LP, joined LIXTE's board of directors. Porter has overseen more than $12 billion of invested and committed capital across energy sectors since founding Denham Capital in 2004.

The company cited North American Electric Reliability Corporation data projecting summer peak demand will increase by 224 gigawatts over the next decade. NERC issued a Level 3 Alert in April 2026 directing grid operators to address reliability risks from large-scale computational loads.

"The power problem is the AI problem," said Geordan Pursglove, LIXTE's chief executive officer. "Compute capacity is being built faster than the grid can support it."

LIXTE's new strategy will focus on power equipment and service solutions for hyperscale AI and data-center campuses, equipment for distributed power systems supporting enterprise AI, and strategic acquisitions targeting advanced generation technologies.

The company said it will seek a strategic acquisition partner for its clinical stage pharmaceutical and medical technology operations focused on cancer treatments. LIXTE expects to maintain its Nasdaq listing under the ticker symbol "LIXT" during the transformation process.

Denham Capital's infrastructure group is advancing a pipeline of approximately 10 gigawatts of AI data-center-oriented power generation asset opportunities, according to the press release.