ALP Alpha Compute Corp
Price Chart
Executive Summary
Alpha Compute provides a comprehensive business update announcing $79.2M in total assets, a projected $23M annualized revenue run-rate following a $32.2M GPU off-take deal, and the completed majority acquisition of GAMEE (implied $18M valuation). The filing is heavy on forward-looking statements and narrative spin; actual historical revenue (Q1 2026: ~$30K quarterly) is negligible. No hard financial results with YoY comparisons are filed. The stock trades at a $6M market cap vs. $79.2M in reported assets, reflecting market skepticism about asset quality/revenue realization. Historical calibration shows a 0% win rate on prior ALP reports with -14.25% average T+20 returns — the model has been over-scoring this ticker.
Actionable Insight
Monitor ALP for next quarterly filing (20-F/6-K) to see whether the projected $23M revenue run-rate materializes into cash revenue. The extreme market-cap-to-assets discount (13x book) could compress if the GPU contract delivers verifiable GAAP revenue, but historical losses on prior ALP signals (0% win rate, -14.25% avg T+20) suggest this has been a value trap pattern — high-conviction longs based on asset value alone have failed repeatedly.
Key Facts
- Total assets of $79.2M, total liabilities $44.4M, total equity $34.8M as of June 4, 2026 (unaudited).
- Projected annualized revenue run-rate of ~$23M, up from ~$30K quarterly contracted revenue entering Q1 2026.
- Completed $32.2M two-year off-take agreement for 504 NVIDIA B200 GPUs; $7.5M upfront reservation payment received.
- Acquired 60% controlling interest in GAMEE at an implied $18M valuation from Animoca Brands; GAMEE had $3.5M revenue in 2025 and $926K in Q1 2026.
- ALP has a $6M market cap vs $79.2M reported assets — a 13x book-to-market ratio suggesting deep market skepticism.
Financial Impact
No historical financials for YoY comparison; ~$23M projected run-rate vs $30K quarterly base. Net assets $34.8M vs $6M market cap.
Risk Factors
- Forward-looking revenue projections may not materialize — no GAAP revenue history from GPU operations.
- $44.4M in liabilities, including $34.4M in GPU/lease obligations, against $34.8M equity — leverage is significant.
- Historical performance shows ALP reports have a 0% win rate at T+20 with -14.25% average returns across 7 prior calls.
- Market cap of $6M implies deep skepticism about asset quality/recoverability despite $79.2M reported assets.
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001171843-26-003934 |
| Document: f6k_060526.htm | 0001171843-26-003934 |
| Document: 0001171843-26-003934-index-headers.html | 0001171843-26-003934 |
| Document: 0001171843-26-003934-index.html | 0001171843-26-003934 |
| Document: 0001171843-26-003934.txt | 0001171843-26-003934 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 5, 2026
7d ago
|
6-K
| $0.2536 awaiting T+5 | awaiting T+5 | — | $0.2410 (−4.97%) |
|
Jun 5, 2026
7d ago
|
Press Release
| $0.2537 awaiting T+5 | awaiting T+5 | — | $0.2410 (+5.01%) |
|
May 27, 2026
16d ago
|
6-K
| $0.4460 $0.3090 | ▼ −30.72% | ▼ −31.93% | $0.2410 (−45.96%) |
|
May 27, 2026
16d ago
|
Press Release
| $0.4460 $0.3090 | ▼ −30.72% | ▼ −31.93% | $0.2410 (−45.96%) |
|
May 27, 2026
16d ago
|
Press Release
| $0.4460 $0.3090 | ▼ −30.72% | ▼ −31.93% | $0.2410 (−45.96%) |
|
May 21, 2026
22d ago
|
6-K
| $0.3850 $0.4400 | ▲ +14.29% | ▲ +12.69% | $0.2410 (−37.40%) |
|
May 21, 2026
22d ago
|
Press Release
| $0.3850 $0.4400 | ▼ −14.29% | ▼ −12.69% | $0.2410 (+37.40%) |
|
May 12, 2026
4w ago
|
Press Release
| $0.2750 $0.3630 | ▲ +32.00% | ▲ +31.92% | $0.2410 (−12.36%) |
|
May 11, 2026
4w ago
|
ANALYST-UPGRADE
| $0.4000 $0.3840 | ▼ −4.00% | ▼ −2.97% | $0.2410 (−39.75%) |
US Market Status
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