Key Takeaways:
- Alpha Compute closed its $11M majority acquisition of gaming platform GAMEE
- The deal adds 120M registered users and a digital rewards engine
- GAMEE posted $926K in Q1 revenue, up 56% year-over-year
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Alpha Compute closes $11M GAMEE deal, adding 120M users to AI gaming push
Alpha Compute Corp. completed its $11 million majority acquisition of gaming platform GAMEE from Animoca Brands, bringing 120 million registered users and a proprietary digital rewards engine under the AI infrastructure company's umbrella.
"GAMEE is not simply a gaming platform — it is a fully realized digital economy with over 100 million participants, a world-class founding team, and infrastructure that is purpose-built for the AI era," said Enzo Villani, executive chairman and chief investment officer at Alpha Compute.
The deal values GAMEE at an $18 million enterprise value. Alpha Compute acquired a 60% controlling interest for total consideration of up to $11 million, structured as $3.5 million at closing — $1.5 million in cash and about $2 million in Alpha Compute shares and pre-funded warrants — plus earn-outs of up to $3.5 million in year one and $4 million in year two, contingent on GAMEE achieving annual EBITDA targets of $1.2 million and $1.6 million, respectively. Animoca Brands also transferred about 878 million GMEE tokens, worth roughly $1.83 million, representing 51% of its holdings, and signed a two-year standstill agreement barring it from acquiring a controlling stake in Alpha Compute.
The acquisition marks Alpha Compute's pivot from a Telegram-ecosystem investment vehicle into an AI GPU-as-a-service and confidential compute platform with a consumer-facing distribution layer. GAMEE generated $3.5 million in revenue in 2025 and $926,000 in the first quarter of 2026, up 56% from a year earlier, with 5.57 million users and 88.5 million game plays in the quarter. The platform counts 1.7 million monthly active users and 150,000 daily active users, with over 61 million users inside the Telegram ecosystem.
Deal Structure and Strategic Rationale
The earn-out structure ties additional payouts to GAMEE's earnings performance, aligning incentives for the seller to support post-close growth. Alpha Compute will integrate GAMEE's gaming distribution infrastructure with its Blackwell B200 and B300 GPU clusters powering Telegram's Cocoon AI confidential compute network. The company's strategic priorities include aggressive monetization across native and Telegram-based channels, bridging tier-1 digital brands into the Telegram audience, and deepening AI integration for agent-centric gameplay.
GAMEE's first-quarter performance included a landmark collaboration with Azuki through the Alley Escape Telegram mini-app, which drew 315,000 users and 27 million game plays, reached the top 200 mini apps on Telegram, and sold out Azuki sticker sales within 10 minutes of launch. In January, GAMEE finalized a $2 million ecosystem campaign with nGRND and Flashy called "Gold Fest" to distribute in-situ gold via Telegram, with GAMEE securing $500,000 in development fees and a $500,000 marketing budget. Phase II, launching in the second or third quarter, will introduce an agentic layer enabling users to connect or rent AI agents for a dedicated prize pool.
Valuation Context and Market Positioning
Alpha Compute trades at 0.41 times next-12-month sales against a peer average of 11.85 times for AI infrastructure companies such as CoreWeave, Nebius Group, and Applied Digital, according to a May 27 analyst note. The company has $16.1 million in annual contracted revenue from a $32.2 million, two-year AI lab agreement for its 504-GPU B200 cluster in Canada, with a second 576-GPU B300 cluster in Sweden targeted for the third quarter. The GAMEE acquisition adds a consumer platform with a three-year revenue compound annual growth rate of 112% through 2025.
The newly formed Alpha Games division will be led by GAMEE founder Bozena Rezab as executive vice president. Alpha Compute expects to integrate GAMEE's platform assets, technology stack, and user community into its AI Confidential Compute platform within the next two fiscal quarters, with plans to launch a confidential AI ad network inside the platform.
This article is for informational purposes only and does not constitute investment advice.
[1] Alpha Compute Corp. Completes Majority Acquisition of GAMEE[2] ALPHA COMPUTE CORP COMPLETES MAJORITY ACQUISITION OF GAMING COMPANY GAMEE[3] Alpha Compute Corp.: Alpha Compute Corp Completes Majority Acquisition Of Gaming Company Gamee[4] Alpha Compute: $21 Million NTM Sales Outlook Shows Scale-Up Potential – Quarterly Update Report
