Investors rushed into Alphaton Capital after a surprise Nvidia hardware agreement sent the micro-cap name into an aggressive after-hours rally on Monday.
After-hours price spike and deal overview
AlphaTON Capital Corp closed Monday’s regular session at $0.91 before exploding to $2.61 after the bell, marking a 186.8% after-hours move. The buying came immediately after the company unveiled a $46 million purchase agreement for 576 NVIDIA B300 chips, a bold step for a stock of this size.
However, the scale of the commitment stands out even more when measured against the company’s valuation. AlphaTON’s market cap is $7.86 million, meaning the value of the new hardware deal is nearly six times larger than the firm’s entire public equity footprint.
The acquisition structure is split into three main tranches. The company has already deployed $4 million of existing cash, while $32.7 million will be funded through non-recourse debt. Moreover, the remaining $9.3 million will be covered via equity installments that must be paid before chip delivery.
Deployment at AtNorth and project partners
The 576 B300 units are scheduled to be shipped to AtNorth’s data center in Sweden, a facility powered entirely by hydroelectric energy. Delivery is targeted for February, with installation work planned to begin in March as the company moves quickly to bring the new hardware online.
To support operations, CUDO Compute and SNET Energy Ltd will provide managed services across the deployment. That said, financing coordination is being handled by Vertical Data and LEAP, which helped assemble the capital stack covering debt and equity components.
According to management projections, Alphaton Capital expects the project to generate a 27% internal rate of return and deliver around $11 million in net present value. Revenue from the new infrastructure is forecast to begin in March 2026, assuming the build-out and go-live stay on schedule.
Financing terms and AI network strategy
The non-recourse financing terms include a feature that will likely appeal to equity holders. No principal or interest payments are due until the B300 chips are installed and actively generating revenue, which reduces near-term cash pressure on the balance sheet.
Beyond the financial profile, the new hardware will support a privacy-preserving AI network. The infrastructure is designed to connect with Telegram’s Cocoon AI ecosystem, targeting confidential computing workloads and secure data processing. Moreover, this positioning aims to tap into growing demand for specialized AI compute with stronger privacy guarantees.
The broader environment for AI infrastructure demand remains robust. Moody’s Ratings projects as much as $3 trillion in data center investment over the next five years, driven by AI training, inference, and cloud computing expansion across major enterprises.
Shift from prior Nvidia B200 plans
The newly announced arrangement replaces a previous strategy disclosed in November 2025. At that time, the company had outlined plans to acquire more than 1,000 NVIDIA B200 GPUs, but has since pivoted toward the newer B300 chips instead, suggesting a tactical shift to higher-spec infrastructure.
On the competitive front, other technology leaders are also racing to secure compute. Meta on Monday launched its “Meta Compute” initiative, a program focused on expanding AI infrastructure and deepening relationships with strategic suppliers. However, micro-cap issuers like AlphaTON face a very different risk-reward profile compared to large-cap technology platforms.
Investors monitoring the NVIDIA B300 deal will now focus on execution. February delivery to the AtNorth Sweden data center must proceed without delay, while the subsequent March installation will be critical for meeting the company’s revenue timetable.
Key milestones, cash needs, and trading profile
Several checkpoints now define the story over the coming quarters. First, hardware delivery in February must stay on track. Second, full installation and integration in March will be vital to avoid slippage in the March 2026 revenue start date that underpins the financial model.
In parallel, the company still needs to meet its outstanding equity obligations. The final $9.3 million in equity installments must be funded before the chips arrive, and how AlphaTON covers those payments will give the market a clearer read on its near-term financial stability.
Historically, the stock has shown substantial volatility. Over the past year, the 52-week range has stretched from $0.56 at the low end to as high as $15.82. Moreover, the balance sheet currently reflects more cash than debt, with a current ratio of 2.02, offering some liquidity cushion even as the company scales up commitments.
Risk factors and outlook after the stock surge
The company has highlighted several risk factors that could affect performance. Crypto market fluctuations may impact related business lines, while regulatory changes could introduce new compliance burdens. In addition, technical issues during deployment or integration at AtNorth’s Swedish facility could delay revenue, which would hit a smaller issuer harder than a diversified large-cap peer.
That said, the central question for traders on Tuesday morning is whether the alphaton capital price spike can hold through premarket and the opening bell. The B300 chips are slated to reach Sweden in February, with full deployment expected by March 2026, setting up a long runway of execution risk and potential upside.
In summary, AlphaTON’s after-hours breakout reflects investor enthusiasm for high-spec AI infrastructure tied to Nvidia hardware, but the outsized deal relative to the company’s market cap, the reliance on structured financing, and a history of volatility mean that delivery timelines, equity funding, and technical deployment will remain under close scrutiny.
Source: https://en.cryptonomist.ch/2026/01/13/alphaton-capital-nvidia-b300-deal/
