AIB Data Centers

The power-first playbook and creation of a project-level SPV (AIB CLT1 LLC) are positives that should facilitate non-recourse project financing. The June 2026 offering traded dilution for runway, a reasonable choice given the buildout ahead.

Offsetting this, the corporate history is convoluted (reverse merger with Signing Day Sports), and prior related-party transactions plus mining-container purchases reflect a legacy pivot rather than a pure-play greenfield strategy.

There is a 2026 equity plan and advisory-share expenses flowing through SG&A, so investors should monitor potential dilution carefully. Capital allocation will look much better if management lands a creditworthy anchor and structures project-level debt at attractive terms.