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Shares of ALT5 Sigma Corporation (ALTS) surged 12% early premarket on Friday after the company and Nano Labs announced a non-binding Memorandum of Understanding (MoU) to explore building AI data center infrastructure in North America.
This positions ALT5 as one of the growing small-cap entrants leaning into AI-driven narratives.
Nano Labs said the evaluation of the MoU will be carried out over 90 days, with defined workstreams, led by a joint working group from both companies.
Under the agreement, both companies will evaluate a potential collaboration across three focus areas:
Nano Labs said the partnership is aligned around the capabilities of both companies. In this collaboration, ALT5 would contribute with its global payments, trading, and financial infrastructure, and Nano Labs would aid the project with its expertise in high-performance computing, chip design, and data center systems.
Nano Labs (NA) is a Hong Kong-based company that operates as a Web 3.0 infrastructure and product solution provider, and a crypto treasury company.
ALT5 operates within the Fintech and Biotechnology segments. The company operates in tokenization, trading, clearing and settlement, payments, and safekeeping of digital assets.
Recently, ALT5 said it would rebrand itself as an AI financial corporation and change its Nasdaq ticker symbol to AIFC in the near term.
On Stocktwits, retail sentiment surrounding the stock is ‘bullish’ amid ‘normal’ message volumes.
Shares of ALT5 have declined more than 29% year-to-date.
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