AIB Advances CLT1 Delivery With Funded Prepayment and Executed Equipment Orders
Contracted Sites Underwritten to Approximately $90.5 Million in Projected Annual Stabilized NOI, Based on Year 5 of
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Contracted Sites Underwritten to Approximately $90.5 Million in Projected Annual Stabilized NOI, Based on Year 5 of the Executed Customer Agreements
NEW YORK, Nov. 10, 2026 (GLOBE NEWSWIRE) — AIB Data Centers Inc. (NYSE American: AIB) (“AIB” or the “Company”), a developer of right-sized, 40–90 MW data centers for artificial intelligence (“AI”) and high-performance computing (“HPC”) customers, today announced that prepayment obligations were funded into escrow for AIB’s CLT1 campus and that AIB has received its first draw. AIB has also executed purchase orders for backup generators, uninterruptible power supply (UPS) systems and switchgear, with delivery scheduled to support the construction timeline.
These milestones advance the development of CLT1, where AIB expects to deliver 50 MW of critical IT capacity under an executed 12-year agreement. Across all contracted sites, the Company’s underwriting projects approximately $90.5 million in annual stabilized net operating income (NOI), a non-GAAP financial measure, based on Year 5 of the executed customer agreements.
“For neocloud companies, capacity is valuable when delivery is timely,” said Jerry Tang, Chief Executive Officer of AIB Data Centers. “Our focus is now on converting contracted demand into operating assets and recurring income. Each of these milestones moves us closer to our goal of becoming the go-to developer for neocloud companies.”
Contracted Portfolio Underwritten to $90.5 Million in Projected Annual Stabilized NOI
AIB’s approximately $90.5 million of underwritten projected annual stabilized NOI reflects Year 5 of the executed customer agreements across all contracted sites. It represents projected property-level operating performance at stabilization, not current earnings or cash available to common shareholders. Realization of this estimate depends on project completion and actual operating results.
Development Costs Include Construction and Other Project Costs
The Company’s estimated total development cost is approximately $760-$780 million including land. This comprises approximately $630-$645 million in construction costs and $130-$135 million in land, contingency and financing costs. On the 50 MW critical IT capacity basis used in this update, this equates to approximately $15.2-$15.6 million per IT MW: $12.6-$12.9 million for construction and $2.6-$2.7 million in land, contingency, and financing costs. Estimates remain subject to changes in project scope, procurement pricing, financing terms, and construction timing.
Right-Sized Projects Mean Greater Delivery Certainty
AIB is focusing on 40–90 MW data centers as communities and policymakers across the country scrutinize proposed data centers’ effects on utility bills, local infrastructure, land and water use, and neighbors’ quality of life. At every site, AIB engages early and stays engaged: listening to local officials and neighbors, being transparent about what it is building, and working with them from development through operations.
Paired with secured power and standardized design, this approach is intended to provide greater delivery certainty for neocloud customers.
“We chose 40–90 MW because it is a scale we can execute with greater certainty,” Tang added. “That matters to customers whose businesses depend on capacity arriving on time.”
AIB will discuss its progress at CLT1 on its third quarter 2026 earnings call; date and dial-in details will be announced separately.
Stay Informed
Investors can follow AIB’s progress, sign up for company updates and find details for the third quarter 2026 conference call through the Investor Hub at https://www.aib.us/investors/, or by contacting Investor Relations at AIB@mzgroup.us.
About AIB Data Centers
AIB Data Centers Inc. is a developer and operator of digital infrastructure focused on AI hosting and high-performance computing workloads. The Company’s platform combines access to reliable, scalable power resources with modular infrastructure deployment designed to accelerate the development of next-generation compute capacity.
For more information, visit https://www.aib.us/.
Non-GAAP Financial Measures
AIB defines NOI as revenue less property operating expenses: property management, insurance, property taxes, general and administrative expenses. NOI is not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) and should not be considered an alternative to net income, operating income or any other GAAP measure. AIB has not provided a reconciliation of projected NOI to operating income, the most directly comparable GAAP measure, because certain reconciling items, principally depreciation and amortization (which depends on final project costs and the timing of placing facilities in service) are not yet known and cannot be estimated without unreasonable efforts. These items could be significant.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements may be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. Forward-looking statements in this release include expected equipment delivery timing, future releases of escrowed funds, underwritten stabilized NOI based on Year 5 of executed customer agreements, estimated construction and total development costs, and expected benefits of the Company’s development strategy. These statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including the Company’s ability to attract and retain key personnel, the availability of capital and project financing, the timing and completion of construction, utility and interconnection work, including at the Company’s CLT1 data center campus, the receipt of required permits and governmental approvals, customer demand, the Company’s ability to satisfy its obligations under customer agreements, changes in applicable laws, regulations or utility requirements, and other factors described in the Company’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement except as required by law.
Investor Relations
Chris Tyson
Executive Vice President
MZ Group – MZ North America
Phone: (949) 491-8235
AIB@mzgroup.us
www.mzgroup.us
Media Relations
Alex Petersen
Director of Media Relations
Tigercomm
Phone: (203) 313‑7699
media@aib.us
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