Hyperscale Data, Inc. is reviewing strategic alternatives for its Michigan AI and high-performance computing data center, including a sale or lease of part or all of the asset for cash, a strategic investment, a joint venture, or continued ownership, as the board says the company's public valuation does not reflect its assets, contractual opportunities and businesses. The review follows a long-term Master Services Agreement signed by Alliance Cloud Services, LLC, an indirect wholly owned subsidiary, with a California-based neocloud provider for an initial deployment of about 20 megawatts of AI compute capacity, which the company says should generate about $1.2 billion in contractual value over the term. If expanded to about 52 megawatts, the agreement could lift total contract value to more than $3.0 billion, which Hyperscale Data says would represent roughly 20% of the Michigan campus's contemplated capacity and leave about 80% available for future customers and development. The company has started discussions with a major investment banking firm, set no timetable for the process, and said any cash transaction could support the balance sheet, debt reduction, investment in remaining businesses, share repurchases, distributions to stockholders or other board-approved uses.