iPower Inc. (Nasdaq: IPW) announced on October 15, 2026, that its wholly owned subsidiary, iPower AI LLC, has received a customer-signed, non-binding letter of intent (LOI) for a five-year AI equipment services and management relationship. The filing indicates this engagement is intended to support the company's transformation into an AI infrastructure and services company.
The customer has identified an initial fleet of 48 AI computing equipment units and expects to expand to approximately 396 units in total during 2027. At the proposed fee of $4,608 per unit per month, the target fleet would represent up to approximately $1.82 million in monthly service fees, or up to $21.90 million on an annualized basis for the five-year term.
According to the press release, the initial 48 units would represent approximately $2.65 million in annualized fees, or $13.27 million if all 48 remain billable for the full 60-month cooperation period. iPower AI LLC would provide or coordinate equipment operations, monitoring, maintenance, technical support, and data center coordination.
The LOI's commercial terms are non-binding and subject to a definitive services agreement between iPower AI LLC and the customer. The press release notes that fee illustrations assume the stated units remain billable at the proposed rate throughout the illustrated period and are not committed revenue, backlog, profit, or 2027 revenue guidance.
