AlphaTON Capital (ATON) Stock Rallies 186% After-Hours on $46M Nvidia Chip Deal

TLDR

• AlphaTON Capital (NASDAQ:ATON) closed a $46 million deal to acquire 576 NVIDIA B300 chips for AI infrastructure deployment
• Stock jumped 186.8% in after-hours trading to $2.61 after closing regular session at $0.91
• Deal financed with $4 million cash, $32.7 million non-recourse debt, and $9.3 million equity installments
• Chips will be deployed at AtNorth’s hydroelectric data center in Sweden with February delivery expected
• Company projects 27% internal rate of return with revenue generation starting in March 2026

AlphaTON Capital Corp shares exploded in after-hours trading Monday. The stock closed regular trading at $0.91, up 1.0% for the day. Then it rocketed to $2.61 after the close, a 186.8% jump.

AlphaTON Capital Corp., ATON

The surge came after the company announced a $46 million AI infrastructure deal. AlphaTON will acquire 576 NVIDIA B300 chips in the transaction.

The deal size is eye-catching for AlphaTON. The company’s market cap sits at just $7.86 million. The $46 million investment dwarfs the company’s current valuation.

AlphaTON structured the financing in three parts. The company paid $4 million from its balance sheet. Non-recourse debt covers $32.7 million of the deal. The remaining $9.3 million will come from equity installments before February delivery.

Non-recourse financing means lenders can only claim the project assets if things go wrong. They can’t touch the rest of the company’s balance sheet.

The chips will land at AtNorth’s data center in Sweden. The facility runs entirely on hydroelectric power. Delivery is scheduled for February with installation expected in March.

Hardware Specs and Revenue Projections

AlphaTON calls the setup a half-cluster. CUDO Compute and SNET Energy Ltd will provide managed services. Vertical Data and LEAP arranged the financing.

The company projects a 27% internal rate of return on the investment. AlphaTON also forecasts an $11 million net present value. Revenue generation should begin in March 2026 according to the company’s timeline.

No debt or interest payments are due until after installation. The chips need to be running and generating revenue first.

CEO Brittany Kaiser said the infrastructure will contribute to a privacy-preserving AI network. The system will integrate with Telegram’s ecosystem through Cocoon AI. This network focuses on confidential computing for sensitive data.

Deal Replaces Previous GPU Plans

This agreement replaces an earlier plan from November 2025. AlphaTON had previously announced plans to buy over 1,000 NVIDIA B200 GPUs. The company switched to the B300 chips instead.

The market context matters here. Moody’s Ratings projects at least $3 trillion will flow into data center investments over the next five years. AI and cloud demand are driving the spending spree.

Meta launched its “Meta Compute” program Monday. The initiative aims to expand AI infrastructure and strengthen supplier relationships. The timing shows how competitive the AI infrastructure space has become.

Investors will watch several key factors now. The February delivery window comes first. Then installation needs to happen smoothly in March. Revenue generation starting on schedule will be critical.

The outstanding equity payments also matter. AlphaTON needs to cover $9.3 million before delivery. How the company handles these payments will signal its financial health.

AlphaTON’s stock has been volatile. The 52-week range spans $0.56 to $15.82. The company holds more cash than debt on its balance sheet with a current ratio of 2.02.

The company disclosed risks in its announcement. Crypto market swings could impact operations. Regulatory hurdles might emerge. Technical issues during infrastructure rollout could cause problems. These risks hit harder for companies with lean balance sheets.

The B300 chips are expected to arrive at the Sweden facility in February with full deployment scheduled for March 2026.

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