AIB Data Centers Inc. (NYSE American: AIB) issued a press release on October 7, 2026, containing a letter from Chief Executive Officer Jerry Tang to shareholders. The letter outlines the company’s recent progress and details the development and funding strategy for its CLT1 data center campus.
The filing highlights a significant milestone: the execution of a 12-year agreement with Nebius for 50 MW of critical IT capacity at the CLT1 campus. This contract includes two potential five-year renewal periods. The letter states that this agreement validates AIB’s strategy of converting secured power capacity into long-term contracted data center capacity.
In addition to the Nebius deal, the company reported the completion of a strategic acquisition in Texas. This transaction increased AIB’s total contracted utility power capacity from 65 MW to approximately 120 MW.
Regarding the funding of CLT1, the CEO addressed shareholder concerns by stating that the company’s current development plan combines substantial customer prepayments with project-level financing, including potential debt and preferred equity. Tang emphasized that, based on these anticipated sources, AIB does not currently anticipate requiring corporate-level common equity to fund the development of CLT1.
The letter details a business progression model focused on securing power, contracting customer capacity, securing project funding, and delivering infrastructure to generate long-term revenue. The company stated its immediate priority is advancing CLT1 toward delivery and meeting commitments to Nebius.
