iPower Inc. (NASDAQ:IPW) ("iPower" or the "Company") today announced that it has signed a non-binding letter of intent with a prospective customer for the proposed lease of dedicated high-performance GPU computer systems. The proposed initial deployment would involve GPU systems with an expected acquisition value of approximately $6 million and an anticipated lease term of approximately 36 months following installation and acceptance, with the potential to expand to approximately $60 million in aggregate contemplated contract value, including the initial phase, following a successful initial deployment.

Under the proposed structure, iPower or its designated subsidiary would acquire the GPU systems, retain ownership of the equipment and lease the systems to the prospective customer for exclusive use at a mutually agreed data center. The model is designed to provide customers with access to dedicated AI computing infrastructure while allowing iPower to seek lease revenue from Company-owned hardware assets.