Aug. 13 at 4:24 PM
$FNGR Fingermotion tiptoes into the AI biz with a
$500K investment (via equity issuance) into Lyken AI (a subsidiary of the holding company Alset AI Ventures (TSXV:GPUS). This non cash deal gives FNGR a 9.9% stake in Lyken AI.
I'll link Alset's latest annual financials in the comments below for those that care to read them. You should read them.
My takeaway:
1) AI is a hot sector, and the sovereign Canadian AI compute angle is good.
2) Alset is an early-stage, speculative ticker. It's success depends on Lyken's success, which means one must pay attention to execution. The risk is execution risk.
3) Lyken's revenue announced so far is only
$250K CAD/qtr with low margins at around 5%.
