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FingerMotion Signs MOU with Lyken AI and BlueFlare
FingerMotion announced that it has entered into a non-binding memorandum of understanding with Lyken AI Computing and BlueFlare Energy Solutions. The company also provided an update on its working relationship with BlueFlare Group and its affiliates and on discussions concerning natural gas supply for planned behind-the-meter generation at certain Alberta development sites. The MOU is intended to establish a preferred, non-exclusive demand-to-capacity matching framework that connects Lyken's enterprise artificial intelligence and high-performance computing client pipeline and Platform-as-a-Service requirements with potential modular BTM capacity evaluated or developed under FingerMotion's existing BlueFlare alliance. The initial geographic focus is Alberta, British Columbia and Saskatchewan, Canada. The parties may consider other jurisdictions by written agreement. Further to the company's August 27 announcement of its owner-operator strategy, the MOU is intended solely to supplement and support the existing FingerMotion-BlueFlare development framework by adding a coordinated process for evaluating qualified Lyken demand. It does not amend, replace, supersede, expand or otherwise affect any existing agreement among any of the parties, including any rights, restrictions, approval requirements or exclusivity provisions. Those existing agreements continue to control their subject matter. Over the past several months, FingerMotion and BlueFlare have continued to coordinate on site development. BlueFlare serves as engineering, procurement and construction partner on the program and is expected to bring compute demand to campuses it develops. The BlueFlare relationship has progressed from a single-project discussion to a multi-site development program. The parties have not announced a new definitive commercial agreement in connection with this update. FingerMotion is in discussions with more than one natural gas supplier and midstream counterparty regarding possible firm supply arrangements to support generation at its corridor sites. Topics under discussion include terms, volume, delivery points, and pricing mechanics suitable for long-dated behind-the-meter generation. No definitive supply agreement has been executed.
Alset AI Ventures Signs Strategic MOU with BlueFlare
Alset AI Ventures announced that its 90.1%-owned cloud compute business, Lyken AI Computing entered into a non-binding strategic memorandum of understanding dated September 2, with BlueFlare Energy Solutions and FingerMotion. Further to FingerMotion's August 27, announcement of its strategic plan with BlueFlare, the MOU establishes an indicative implementation framework for the demand side of that plan. It is intended to connect Lyken's enterprise AI and high-performance computing client opportunity pipeline and Platform-as-a-Service requirements with potential modular behind-the-meter capacity evaluated or developed under FingerMotion's existing BlueFlare alliance, initially in Western Canada and in other jurisdictions the parties may agree upon. Subject to the existing FingerMotion-BlueFlare framework, other existing obligations, third-party rights, technical fit and project-specific definitive agreements, the parties intend to provide Lyken with early visibility into potential future BTM capacity being evaluated or developed through FingerMotion's BlueFlare alliance and a preferred opportunity to present and match qualified enterprise workloads to that capacity. Lyken would be able to present prospective client requirements - including jurisdiction, workload, power density, deployment timing, networking, storage, security and service-level needs - so that the parties can assess whether an opportunity within the existing development platform may provide an appropriate deployment path. The preferred framework relates to demand matching and project evaluation only. It does not reserve, allocate or guarantee capacity, grant Lyken exclusivity or create a right of first refusal, option or ownership interest in any site, power asset or project. Any priority, capacity allocation, commercial right or project commitment would arise only under a definitive agreement for the applicable site or customer opportunity.
Selling Stockholders Plan to Sell 25.52M Shares of Common Stock
This filing relates to the offer and sale from time to time by the selling stockholders of up to 25.52M shares of common stock. The company is not selling any shares under this prospectus and will not receive any of the proceeds from the sale of shares by the selling stockholders.
FingerMotion Plans Modular AI Compute Infrastructure Expansion in North America
The letter said, "Artificial intelligence is driving demand for computing capacity faster than the power grid can deliver. Conventional data centers take years to build and interconnect. FingerMotion intends to address this gap with modular, behind-the-meter compute infrastructure in North America-capacity built in stages, sited where power already exists, and matched to visible demand. Since becoming Chief Executive Officer earlier this month, I have been working with our Board, management team and strategic partners to establish a disciplined path into the enterprise AI and compute-infrastructure market while preserving and strengthening FingerMotion's existing business. This letter outlines the opportunity we see and the measured approach we intend to take. The Board and management take their fiduciary duties seriously. Every decision is evaluated against the long-term interests of the Company and all its shareholders. Our approach emphasizes commercial validation, prudent financing, clear contractual rights, and disciplined capital deployment. We will not pursue growth merely to announce larger projects. FingerMotion continues to operate its mobile data, payment, and recharge platform business in China. Management remains focused on improving efficiency, cash conversion, and profitability of that platform. Our primary focus is a deliberate expansion into modular AI and high-performance computing infrastructure in North America. Rather than a single multibillion-dollar hyperscale campus, we are evaluating smaller, modular facilities that can be deployed incrementally in response to contracted or demonstrable customer demand. This approach is intended to reduce initial development risk and shorten timelines compared with traditional hyperscale projects. A central element is access to reliable, economically attractive power. In Western Canada, we are evaluating behind-the-meter facilities located near natural-gas resources, allowing electricity to be generated and consumed on site rather than transmitted through the public grid. If successful, this model can provide greater control over power availability and cost while avoiding many grid-interconnection delays. Our first step in the execution of our plan was the recent acquisition of a 9.9% interest in Lyken AI Computing Inc. Lyken provides access to outsourced cloud-compute capacity and is developing an integrated enterprise offering that spans compute infrastructure, secure storage, private low-latency networking, and deployment support. Many enterprise customers need more specialized infrastructure than retail colocation provides yet lack the scale to contract directly with hyperscale operators. That underserved segment is one of the markets we intend to address. Progress will be measured against specific operating and commercial milestones, including: Continued execution and improved cash management in our existing business; Completion of technical, legal, and financial due diligence on the initial project; Negotiation of definitive site, equipment, hosting, power, and construction agreements; Development of a detailed capital budget, deployment schedule, and AI hardware procurement plan; Confirmation of network connectivity, permitting, and regulatory requirements; Securing customers or commercially supportable indications of demand before committing substantial capital; and Integration of Lyken's enterprise-compute capabilities and customer pipeline into the broader strategy..."
FingerMotion Reports 50% Revenue Growth
FingerMotion (FNGR)…
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