Alpha Compute (ALP)
Market Price (7/17/2026): $0.2005 | Market Cap: $0.5 MilSector: Financials | Industry: Asset Management & Custody Banks
Alpha Compute (ALP)
Market Price (7/17/2026): $0.2005Market Cap: $0.5 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -649% Megatrend and thematic driversMegatrends include Artificial Intelligence. Themes include AI Chips, AI Software Platforms, and Data Centers & Infrastructure. | Weak multi-year price returns2Y Excs Rtn is -62%, 3Y Excs Rtn is -97% | Penny stockMkt Price is 0.2 Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7635% High stock price volatilityVol 12M is 171% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 41% Key risksALP key risks include [1] the potential failure of its early-stage product candidates to complete clinical trials and gain regulatory approval, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -649% |
| Megatrend and thematic driversMegatrends include Artificial Intelligence. Themes include AI Chips, AI Software Platforms, and Data Centers & Infrastructure. |
| Weak multi-year price returns2Y Excs Rtn is -62%, 3Y Excs Rtn is -97% |
| Penny stockMkt Price is 0.2 |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is 0 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -7635% |
| High stock price volatilityVol 12M is 171% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 41% |
| Key risksALP key risks include [1] the potential failure of its early-stage product candidates to complete clinical trials and gain regulatory approval, Show more. |
Qualitative Assessment
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Alpha Compute (ALP) stock has lost about 25% since it went public on 4/21/2026 because of the following key factors:
1. Alpha Compute reported a significant net loss for fiscal year 2026. The company announced a net loss of $38.6 million for fiscal year 2026, which ended around June 2026. This loss was considerably wider than the $6.8 million loss reported in the prior fiscal year. More than half of this fiscal 2026 net loss was attributed to one-time charges related to the company's previous business ventures.
2. The company is undergoing a complex transition from legacy businesses to an AI infrastructure focus. Alpha Compute, which went public on April 21, 2026, has been actively pivoting from its former biotech and digital asset treasury operations to become an AI GPU-as-a-service (GPUaaS) and AI Confidential Compute provider. This strategic shift, while positioning the company in a high-growth sector, involved substantial one-time expenses that contributed to the widened fiscal year 2026 net loss. Investors may be exercising caution due to the uncertainties associated with this major business model change and the execution challenges of establishing a new core operation.
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Alpha Compute (ALP) stock has lost about 25% since it went public on 4/21/2026 because of the following key factors:
1. Alpha Compute reported a significant net loss for fiscal year 2026. The company announced a net loss of $38.6 million for fiscal year 2026, which ended around June 2026. This loss was considerably wider than the $6.8 million loss reported in the prior fiscal year. More than half of this fiscal 2026 net loss was attributed to one-time charges related to the company's previous business ventures.
2. The company is undergoing a complex transition from legacy businesses to an AI infrastructure focus. Alpha Compute, which went public on April 21, 2026, has been actively pivoting from its former biotech and digital asset treasury operations to become an AI GPU-as-a-service (GPUaaS) and AI Confidential Compute provider. This strategic shift, while positioning the company in a high-growth sector, involved substantial one-time expenses that contributed to the widened fiscal year 2026 net loss. Investors may be exercising caution due to the uncertainties associated with this major business model change and the execution challenges of establishing a new core operation.
3. Alpha Compute faces a low current revenue base and projected future losses despite new contracts. Although the company secured a $32.2 million, two-year contract in fiscal Q2 2026, translating to $16.1 million in annual contracted revenue—a significant increase from approximately $30,000 in fiscal Q1 2026—its overall revenue base remains small. Analyst forecasts for fiscal 2026 projected $0 in revenue and a loss of -$14.894 million. Furthermore, analysts anticipate Alpha Compute will continue to incur net losses in fiscal 2027 (approximately -$9.91 million) and fiscal 2029 (approximately -$57,964), with profitability not expected until fiscal 2030 (forecasted at $753,531). This indicates a long path to sustained profitability, which can deter investors in the short term.
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Stock Movement Drivers
Fundamental Drivers
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Market Drivers
3/31/2026 to 7/16/2026| Return | Correlation | |
|---|---|---|
| ALP | ||
| Market (SPY) | 15.4% | 17.4% |
| Sector (XLF) | 14.9% | 9.1% |
Fundamental Drivers
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Market Drivers
12/31/2025 to 7/16/2026| Return | Correlation | |
|---|---|---|
| ALP | ||
| Market (SPY) | 10.4% | 17.4% |
| Sector (XLF) | 4.1% | 9.1% |
Fundamental Drivers
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Market Drivers
6/30/2025 to 7/16/2026| Return | Correlation | |
|---|---|---|
| ALP | ||
| Market (SPY) | 22.5% | 17.4% |
| Sector (XLF) | 9.7% | 9.1% |
Fundamental Drivers
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Market Drivers
6/30/2023 to 7/16/2026| Return | Correlation | |
|---|---|---|
| ALP | ||
| Market (SPY) | 75.3% | 17.4% |
| Sector (XLF) | 75.9% | 9.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ALP Return | - | - | - | - | - | 14% | 14% |
| Peers Return | 52% | -31% | 92% | 61% | 33% | -0% | 326% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| ALP Win Rate | - | - | - | - | - | 50% | |
| Peers Win Rate | 65% | 33% | 72% | 70% | 55% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| ALP Max Drawdown | - | - | - | - | - | - | |
| Peers Max Drawdown | -15% | -42% | -17% | -20% | -28% | -24% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSFT, AMZN, GOOGL, NVDA, IBM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/16/2026 (YTD)
How Low Can It Go
ALP has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -15.5% | -18.8% |
| % Gain to Breakeven | 18.4% | 23.1% |
| Time to Breakeven | 80 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.7% | -9.5% |
| % Gain to Breakeven | 12.0% | 10.5% |
| Time to Breakeven | 26 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.1% | -6.7% |
| % Gain to Breakeven | 19.1% | 7.1% |
| Time to Breakeven | 270 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -19.7% | -19.2% |
| % Gain to Breakeven | 24.5% | 23.8% |
| Time to Breakeven | 123 days | 105 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
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ALP has limited trading history. Below is the Financials sector ETF (XLF) in its place.
| Event | XLF | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -22.3% | -24.5% |
| % Gain to Breakeven | 28.6% | 32.4% |
| Time to Breakeven | 467 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.8% | 50.9% |
| Time to Breakeven | 289 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -21.4% | -12.2% |
| % Gain to Breakeven | 27.3% | 13.9% |
| Time to Breakeven | 272 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -26.1% | -17.9% |
| % Gain to Breakeven | 35.3% | 21.8% |
| Time to Breakeven | 162 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -78.3% | -53.4% |
| % Gain to Breakeven | 359.8% | 114.4% |
| Time to Breakeven | 2329 days | 1085 days |
In The Past
State Street Financial Select Sector SPDR ETF's stock fell -15.5% during the 2025 US Tariff Shock. Such a loss loss requires a 18.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Alpha Compute (ALP)
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Brittany Kaiser, Chief Executive Officer
Brittany Kaiser is a serial entrepreneur and activist, recognized globally for her expertise in technology and legislative reform. She has advised governments, companies, and campaigns on policy and strategy throughout her career. Notably, Ms. Kaiser is a former business development director and whistleblower for Cambridge Analytica, subsequently focusing on ethical technology through education and legislative advocacy. She is a co-founder and President of the Own Your Data Foundation and has guided three companies to public listing on Nasdaq, including Gryphon Digital Mining (now American Bitcoin). She is also the best-selling author of "Targeted" and the primary subject of the Netflix documentary "The Great Hack."
Wes Levitt, Chief Financial Officer
Wes Levitt oversees Alpha Compute Corp.'s finance, accounting, and capital markets operations, a role he assumed in October 2025 during the company's prior iteration as AlphaTON Capital. Previously, Mr. Levitt served as Co-CIO at Alpha Sigma Capital Advisors, where he was responsible for investment strategy, asset allocation, and portfolio oversight for a prominent blockchain industry fund. He also held the position of Head of Strategy at Theta Labs, where he directed global corporate strategy, marketing, analytics, and token infrastructure initiatives. His experience includes serving as Chief Financial Officer for a special-purpose acquisition company (SPAC).
Enzo Villani, Executive Chairman & Chief Investment Officer
Enzo Villani serves as Executive Chairman and Chief Investment Officer for Alpha Compute Corp. He played a significant role in developing the core firmware for Telegram's Cocoon AI launch and in securing hardware-level encryption capabilities for the company. Mr. Villani emphasizes Alpha Compute's strategic position as a specialized and scalable AI compute company, aiming to lead in the rapidly evolving AI infrastructure market.
Yury Mitin, Chief Business Development Officer
Yury Mitin is the Chief Business Development Officer of Alpha Compute Corp. He was part of the leadership team when the company, then AlphaTON Capital, focused on developing the TON digital asset treasury strategy within the Telegram ecosystem.
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- Clinical Development and Regulatory Approval Risk: Portage Biotech Inc. is primarily a research and development company with its product candidates, such as INT230-6, in early-stage clinical trials (Phase I/II). The biotechnology drug development process is inherently uncertain, lengthy, and expensive, with a high rate of failure at each clinical trial stage due to issues with efficacy, safety, or unforeseen complications. There is no guarantee that any of the company's product candidates will successfully complete clinical trials or receive the necessary regulatory approvals (e.g., from the FDA or EMA). Failure to successfully advance product candidates through clinical development or to obtain regulatory approvals would severely impact the company's ability to generate revenue and its overall business viability.
- Funding and Liquidity Risk: As a biotechnology company focused on research and development without currently marketed products generating substantial revenue, Portage Biotech Inc. is expected to incur significant operating expenses for its R&D activities and clinical trials. The company will require substantial additional capital to continue funding its development programs and to pursue potential commercialization. The ability to raise this capital through equity financing, debt, or strategic partnerships will depend on various factors, including the progress of its pipeline, market conditions, and investor confidence. There is a risk that adequate funding may not be available on favorable terms or at all, which could force the company to delay, scale back, or abandon its development efforts.
- Intellectual Property Risk: The success and value of Portage Biotech Inc. are heavily dependent on its ability to obtain, maintain, and protect its proprietary technologies, drug candidates, and discoveries through patents and other intellectual property rights. There is a risk that the company's patent applications may not be granted, that existing patents may be challenged, invalidated, or circumvented by competitors, or that they may not provide adequate protection against competitive products or technologies. Intellectual property disputes or the inability to effectively protect its intellectual property could significantly undermine the company's competitive position, diminish its asset value, and negatively affect its future prospects.
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Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 234.47 |
| Mkt Cap | 2,831.6 |
| Rev LTM | 285,882 |
| Op Inc LTM | 111,776 |
| FCF LTM | 64,429 |
| FCF 3Y Avg | 69,474 |
| CFO LTM | 148,531 |
| CFO 3Y Avg | 120,527 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 17.5% |
| Rev Chg 3Y Avg | 14.1% |
| Rev Chg Q | 18.3% |
| QoQ Delta Rev Chg LTM | 4.2% |
| Op Inc Chg LTM | 24.0% |
| Op Inc Chg 3Y Avg | 22.5% |
| Op Mgn LTM | 32.7% |
| Op Mgn 3Y Avg | 31.5% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 41.3% |
| CFO/Rev 3Y Avg | 37.3% |
| FCF/Rev LTM | 17.8% |
| FCF/Rev 3Y Avg | 19.3% |
Segment Financials
Revenue by Segment| $ Mil | 2002 | 2001 |
|---|---|---|
| Business Services | 38 | 76 |
| Product Development | 96 | |
| Total | 38 | 172 |
| $ Mil | 2021 | 2003 | 2002 | 2001 |
|---|---|---|---|---|
| Single Segment | -12 | |||
| Product Development | -61 | -0 | 87 | |
| Business Services | 38 | 76 | ||
| Incubation | -594 | -1,008 | ||
| Total | -12 | -61 | -557 | -846 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | 2 | 8 | 99 | 195 | 175 |
| Total | 2 | 8 | 99 | 195 | 175 |
Price Behavior
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.71 | 2.05 | -3.17 | 0.57 | -2.62 | -1.69 |
| Up Beta | 7.95 | 7.25 | -7.79 | 1.46 | 1.00 | -2.51 |
| Down Beta | -2.43 | 1.20 | 1.81 | -4.12 | 0.68 | -4.35 |
| Up Capture | -87% | 87% | 66% | 40% | 18% | 2% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 8 | 16 | 20 | 20 | 20 | 20 |
| Down Capture | 300% | 59% | 202% | 85% | 56% | 30% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 13 | 24 | 27 | 27 | 27 | 27 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ALP | |
|---|---|---|---|---|
| ALP | -27.3% | 171.4% | 0.06 | - |
| Sector ETF (XLF) | 11.2% | 14.6% | 0.51 | 9.1% |
| Equity (SPY) | 21.8% | 12.6% | 1.29 | 17.4% |
| Gold (GLD) | 19.1% | 28.0% | 0.61 | 14.2% |
| Commodities (DBC) | 27.9% | 18.9% | 1.16 | 5.3% |
| Real Estate (VNQ) | 16.9% | 14.0% | 0.88 | -14.2% |
| Bitcoin (BTCUSD) | -45.3% | 42.8% | -1.29 | 25.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ALP | |
|---|---|---|---|---|
| ALP | -6.2% | 171.4% | 0.06 | - |
| Sector ETF (XLF) | 11.6% | 18.5% | 0.49 | 9.1% |
| Equity (SPY) | 13.2% | 17.1% | 0.60 | 17.4% |
| Gold (GLD) | 16.7% | 18.4% | 0.73 | 14.2% |
| Commodities (DBC) | 8.5% | 19.5% | 0.33 | 5.3% |
| Real Estate (VNQ) | 3.2% | 18.9% | 0.07 | -14.2% |
| Bitcoin (BTCUSD) | 14.5% | 53.5% | 0.45 | 25.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ALP | |
|---|---|---|---|---|
| ALP | -3.1% | 171.4% | 0.06 | - |
| Sector ETF (XLF) | 14.1% | 22.0% | 0.58 | 9.1% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 17.4% |
| Gold (GLD) | 10.9% | 16.1% | 0.55 | 14.2% |
| Commodities (DBC) | 6.5% | 18.0% | 0.28 | 5.3% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | -14.2% |
| Bitcoin (BTCUSD) | 57.8% | 66.2% | 0.98 | 25.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| SUMMARY STATS | |||
| # Positive | 0 | 0 | 0 |
| # Negative | 0 | 0 | 0 |
| Median Positive | |||
| Median Negative | |||
| Max Positive | |||
| Max Negative | |||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 07/16/2026 | 20-F |
| 09/30/2025 | 01/13/2026 | 6-K |
| 03/31/2025 | 07/25/2025 | 20-F |
| 09/30/2024 | 11/26/2024 | 6-K |
| 06/30/2024 | 08/27/2024 | 6-K |
| 03/31/2024 | 08/14/2024 | 20-F |
| 12/31/2023 | 02/28/2024 | 6-K |
| 09/30/2023 | 11/28/2023 | 6-K |
| 06/30/2023 | 08/30/2023 | 6-K |
| 03/31/2023 | 07/31/2023 | 20-F |
| 12/31/2022 | 03/01/2023 | 6-K |
| 09/30/2022 | 11/29/2022 | 6-K |
| 06/30/2022 | 08/29/2022 | 6-K |
| 03/31/2022 | 08/01/2022 | 20-F |
| 12/31/2021 | 02/25/2022 | 6-K |
| 09/30/2021 | 11/23/2021 | 6-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 07/16/2026 | 20-F |
| 09/30/2025 | 01/13/2026 | 6-K |
| 03/31/2025 | 07/25/2025 | 20-F |
| 09/30/2024 | 11/26/2024 | 6-K |
| 06/30/2024 | 08/27/2024 | 6-K |
| 03/31/2024 | 08/14/2024 | 20-F |
| 12/31/2023 | 02/28/2024 | 6-K |
| 09/30/2023 | 11/28/2023 | 6-K |
| 06/30/2023 | 08/30/2023 | 6-K |
| 03/31/2023 | 07/31/2023 | 20-F |
| 12/31/2022 | 03/01/2023 | 6-K |
| 09/30/2022 | 11/29/2022 | 6-K |
| 06/30/2022 | 08/29/2022 | 6-K |
| 03/31/2022 | 08/01/2022 | 20-F |
| 12/31/2021 | 02/25/2022 | 6-K |
| 09/30/2021 | 11/23/2021 | 6-K |
| 06/30/2021 | 08/30/2021 | 6-K |
| 03/31/2021 | 07/29/2021 | 20-F |
| 12/31/2020 | 03/01/2021 | 6-K |
| 09/30/2020 | 12/01/2020 | 6-K |
| 06/30/2020 | 10/16/2020 | 6-K |
| 03/31/2020 | 08/18/2020 | 20-F |
| 12/31/2019 | 03/03/2020 | 6-K |
| 09/30/2019 | 12/31/2019 | 6-K |
| 06/30/2019 | 12/31/2019 | 6-K |
| 03/31/2019 | 12/30/2019 | 20-F |
| 09/30/2018 | 11/21/2018 | 6-K |
| 06/30/2018 | 08/28/2018 | 6-K |
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