AIFA’s USD 2.3bn HyalRoute Deal Marks Bold Pivot into AI Infrastructure

All In FutureTech Alliance Inc. (AIFA), the Nasdaq-listed company formerly known as Allied Gaming & Entertainment, said it agreed to acquire a controlling stake in Singapore-based telecom infrastructure operator HyalRoute Communication Group in a deal valued at USD 2.3bn.

The transaction marks a significant change in direction for AIFA, moving the company further away from its roots in experiential entertainment and esports and toward digital infrastructure tied to artificial intelligence, cloud computing and cross-border connectivity.

Under agreement, AIFA will acquire approximately 57.7% of HyalRoute through an all-stock transaction. The company will issue newly created shares at a reference price of USD 10 per share, valuing HyalRoute at roughly USD 4bn. Existing HyalRoute shareholders will receive shares in phases, tied to asset-delivery milestones, with no cash changing hands.

For AIFA, the acquisition is intended to provide the foundation for a broader digital infrastructure platform. Management has outlined plans to combine fiber-optic networks, submarine cable assets, AI computing capacity and related applications into an integrated business serving the growing demand for data transmission and compute power.

Founded in 2006 and headquartered in Singapore, HyalRoute operates one of Southeast Asia’s larger independent telecommunications infrastructure platforms. Its network includes approximately 85,000 km of terrestrial fiber across Cambodia, Myanmar, the Philippines and other ASEAN markets, as well as around 25,000 km of submarine cable infrastructure.

The company is also a member of the Asia-Africa-Europe-1 submarine cable system and holds several strategic cross-border transmission assets. These include a cable landing station in Cambodia and a 35-year telecommunications license in the country, giving HyalRoute a position in a market where regulatory approvals and infrastructure rights can be difficult to secure.

HyalRoute’s recent financial performance helps explain the appeal of the deal. Revenue surged 83% y/y to USD 219mn in 2025, while net income reached approximately USD 108.5mn. Those figures reflect rising demand for connectivity, data transmission and digital services across Southeast Asia.

AIFA plans to build on HyalRoute’s infrastructure by adding capabilities in silicon photonics, AI computing and data-center development. The company has described the strategy as an “optical compute plus optical transmission” platform, linking the networks that carry data with the computing systems needed to process AI workloads.

The acquisition also gives AIFA exposure to some of Asia’s faster-growing digital economies, where cloud adoption, mobile data usage and demand for AI-related services continue to attract investment into telecom and data infrastructure.

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