Alpha Compute Corp

Snapshot

Alpha Compute just pivoted from biotech to AI infrastructure and booked its first-ever revenue, $97,000, in fiscal 2026. Against that, it lost $38.6 million and burned $30.9 million in free cash flow, while holding only $1.8 million in cash.

What's Happening Right Now

• Thu 10th Sep '26 · Reverse split: The board approved a 1-for-50 reverse split effective Sep 8, 2026, cutting shares outstanding from about 77.5 million to roughly 1.55 million to help regain Nasdaq compliance.
• Thu 10th Sep '26 · Nasdaq compliance: On Aug 31, 2026, Nasdaq granted a second 180-day period, until Mar 1, 2027, for the stock to regain the $1.00 minimum bid price, with the CEO citing the completed reverse split as one tool used.
• Thu 10th Sep '26 · Financing: On Sep 10, 2026, Alpha Compute amended its Pennsylvania data center term sheet to add $47 million in seller financing, reducing cash due at closing to $8 million of the $55 million purchase price, though the site remains greenfield and unpermitted.
• Tue 8th Sep '26 · Restatement: On Sep 8, 2026, the company disclosed it must restate its FY2026 financials for material administrative errors, though total revenue, net loss, and cash flows are unaffected.
• Tue 11th Aug '26 · Data center deal: On Aug 11, 2026, Alpha Compute signed a binding term sheet to acquire Pennsylvania mineral and surface assets for a planned 200 MW natural gas-powered data center campus, expandable to 1 GW.