NextGen Digital Platforms Inc. (CSE:NXT) (OTCQB:NXTDF) (FSE:Z12) has successfully closed the third and final tranche of its non-brokered private placement, completing a significant funding round to accelerate its AI infrastructure business.
The Fredericton, New Brunswick-based technology company announced on May 23, 2025, that it raised approximately $740,410 in the final tranche by issuing 2,468,032 special warrants at $0.30 each. This brings the total placement to approximately $2.8 million across three tranches, following earlier closings on May 8 and May 16.
NextGen's primary business, Cloud AI Hosting, provides specialized computing infrastructure for artificial intelligence applications. The platform allows third-party AI developers to rent computing power from NextGen's fleet of high-performance workstations equipped with graphics processing units (GPUs) on an hourly basis.
"This financing underscores the confidence our investors have in our business strategy and growth potential," said Alexander Tjiang, Interim CEO of NextGen. The company plans to use the proceeds for corporate development, marketing, and general working capital as it expands its AI hosting capabilities.
The company previously explored transitioning to a fully cloud-based model but determined that owning physical GPU workstations offered better economic viability. NextGen has been steadily building its fleet of computing hardware since late 2024, with each workstation generating revenue upon deployment.
In addition to its AI infrastructure business, NextGen operates PCSections.com, an e-commerce platform for premium electronics, and is developing cryptocurrency investment offerings. The company has stated its intention to "democratize access to cryptocurrencies by providing investors with exposure to a diversified basket of digital assets through a regulated public vehicle."
The company also announced a new marketing agreement with Alpha Collective Inc., which will provide digital marketing services for a three-month term at a cost of $45,000, starting May 21, 2025.