AIB Data Centers Inc. (NYSE American: AIB), a developer of right-sized, 40–90 MW data centers for artificial intelligence and high-performance computing customers, announced that prepayment obligations were funded into escrow for its CLT1 campus and that the company has received its first draw.

The company has also executed purchase orders for backup generators, uninterruptible power supply (UPS) systems, and switchgear, with delivery scheduled to support the construction timeline.

CLT1 Advances Toward 50 MW of Critical IT Capacity

The milestones advance the development of CLT1, where AIB expects to deliver 50 MW of critical IT capacity under an executed 12-year agreement.

Across all contracted sites, the company's underwriting projects approximately USD 90.5 million in annual stabilized net operating income, a non-GAAP financial measure, based on Year 5 of the executed customer agreements.

"For neocloud companies, capacity is valuable when delivery is timely," said Jerry Tang, Chief Executive Officer of AIB Data Centers. "Our focus is now on converting contracted demand into operating assets and recurring income. Each of these milestones moves us closer to our goal of becoming the go-to developer for neocloud companies."

Portfolio Underwritten to USD 90.5 Million in Projected Annual Stabilized NOI

The approximately USD 90.5 million of underwritten projected annual stabilized NOI reflects Year 5 of the executed customer agreements across all contracted sites.

The company cautioned that the figure represents projected property-level operating performance at stabilization, not current earnings or cash available to common shareholders, and that realization depends on project completion and actual operating results.

Development Costs Estimated at USD 760–USD 780 Million

AIB's estimated total development cost is approximately USD 760–USD 780 million, including land. That total comprises approximately USD 630–USD 645 million in construction costs and USD 130–USD 135 million in land, contingency, and financing costs.

On the 50 MW critical IT capacity basis used in the announcement, the cost equates to approximately USD 15.2-USD 15.6 million per IT MW, consisting of USD 12.6-USD 12.9 million for construction and USD 2.6-USD 2.7 million in land, contingency, and financing costs.

The company noted the estimates remain subject to changes in project scope, procurement pricing, financing terms, and construction timing.

Right-Sized Projects Target Greater Delivery Certainty

AIB is focusing on 40–90 MW data centers as communities and policymakers across the country scrutinize proposed data centers' effects on utility bills, local infrastructure, land and water use, and neighbors' quality of life.

At every site, the company said it engages early and stays engaged by listening to local officials and neighbors, being transparent about what it is building, and working with communities from development through operations.

Paired with secured power and standardized design, this approach is intended to provide greater delivery certainty for neocloud customers.

"We chose 40–90 MW because it is a scale we can execute with greater certainty," Tang said. "That matters to customers whose businesses depend on capacity arriving on time."

Earnings Call and Investor Information

AIB will discuss its progress at CLT1 on its third-quarter 2026 earnings call, with date and dial-in details to be announced separately.

Investors can follow the company's progress, sign up for updates, and find details for the conference call through the Investor Hub or by contacting Investor Relations.

About the Company and Its Financial Measures

AIB develops 40–90 MW facilities for AI and high-performance computing customers, combining access to reliable power with standardized design and development to improve delivery speed and certainty.

The company defines NOI as revenue less property operating expenses: property management, insurance, property taxes, and general and administrative expenses. NOI is not calculated in accordance with U.S. generally accepted accounting principles and should not be considered an alternative to net income, operating income, or any other GAAP measure.

AIB has not provided a reconciliation of projected NOI to operating income, the most directly comparable GAAP measure, because certain reconciling items, principally depreciation and amortization, which depends on final project costs and the timing of placing facilities in service, are not yet known and cannot be estimated without unreasonable efforts. The company said these items could be significant.

Powering the Next Wave of Hyperscale Growth: Track the US Data Center Pipeline Before Your Competitors Do

The United States is racing to add gigawatts of compute capacity, with hyperscalers and colocation providers announcing new campuses at a pace few can keep up with. The question for suppliers, contractors, and investors is simple: are you seeing these opportunities first, or last?

Scattered news alerts and outdated spreadsheets won't cut it in a market this competitive. The Global Project Tracking (GPT) platform by Blackridge Research consolidates the entire United States data center development landscape into a single, always-current intelligence feed, from early-stage announcements to final commissioning.

Whether you're tracking power infrastructure demand, cooling technology adoption, or construction contracts across key hubs like Northern Virginia, Phoenix, and Dallas, the platform gives you the lead time to act decisively.

• Upcoming Projects

• Tender Notices

• Contract Awards

• Projects Under Construction

• Completed Projects

Book a Free Demo today and see how the Global Project Tracking (GPT) platform by Blackridge Research can put the full United States data center project pipeline at your fingertips.