AIB Data Centers Advances 50 MW CLT1 Campus With Prepayment Escrow and Orders for Generators, UPS and Switchgear in the US

AIB Data Centers Inc. (NYSE American: AIB), which develops right-sized 40–90 MW data centers for artificial intelligence and high-performance computing customers, said that it has funded prepayment obligations into escrow for its CLT1 campus and received its first draw.

In parallel, the company placed purchase orders for backup generators, uninterruptible power supply systems, and switchgear, with deliveries timed to support the construction schedule.

CLT1 Targets 50 MW Under 12-Year Customer Agreement

The company expects CLT1 to deliver 50 MW of critical IT capacity under an executed 12-year customer agreement.

Chief Executive Officer Jerry Tang said that timely delivery is what gives capacity its value for neocloud companies, adding that the focus is on converting contracted demand into operating assets and recurring income.

Contracted Book Projected at USD 90.5 Million Stabilized NOI

Across all of its contracted sites, AIB's underwriting projects approximately USD 90.5 million in annual stabilized net operating income, based on Year 5 of the executed customer agreements.

The company stressed that this is a projected property-level figure at stabilization rather than current earnings or cash available to common shareholders, and that achieving it depends on completing the projects and on actual operating results. NOI is a non-GAAP measure.

Costing Points to USD 15.2–USD 15.6 Million Per IT Megawatt

Total development cost is estimated at approximately USD 760–USD 780 million, including land.

That breaks down into roughly USD 630–USD 645 million of construction costs and USD 130–USD 135 million covering land, contingency, and financing costs.

Measured against the 50 MW of critical IT capacity, the figures translate to approximately USD 15.2–USD 15.6 million per IT MW, of which USD 12.6–USD 12.9 million is construction and USD 2.6–USD 2.7 million is land, contingency, and financing.

AIB cautioned that the estimates could change with project scope, procurement pricing, financing terms, and construction timing.

Smaller Campus Model Aimed at Delivery Certainty

The company has deliberately settled on the 40–90 MW scale at a time when communities and policymakers around the country are examining how proposed data centers affect utility bills, local infrastructure, land and water use, neighbors' quality of life and more.

At each site, AIB said it engages early and remains engaged, listening to local officials and neighbors, being transparent about what it is building, and working with communities from development through operations. Combined with secured power and standardized design, the company positions this approach as a way to give neocloud customers greater delivery certainty.

"That matters to customers whose businesses depend on capacity arriving on time," Tang said, explaining that the 40–90 MW range is a scale the company can execute with greater certainty.

AIB Details NOI Methodology and GAAP Limitations

AIB defines NOI as revenue less property operating expenses, which include property management, insurance, property taxes, and general and administrative expenses.

Because it is not calculated under U.S. generally accepted accounting principles, the company says it should not be treated as a substitute for net income, operating income, or other GAAP measures.

No reconciliation of projected NOI to operating income, the most directly comparable GAAP measure, has been provided, since certain reconciling items, chiefly depreciation and amortization, which depend on final project costs and when facilities enter service, cannot yet be estimated without unreasonable effort, and AIB said these items could be significant.

Where Investors Can Follow Along

Progress at CLT1 will be discussed on AIB's third quarter 2026 earnings call, with the date and dial-in details to be announced separately.

Investors can sign up for updates and find conference call information through the Investor Hub or by reaching Investor Relations.