OpenWorld signs nonbinding terms for tokenized AI network financing

OpenWorld entered a nonbinding term sheet with Meridian on October 13 to establish a tokenized financing program for a distributed artificial intelligence computing network, the company disclosed in an SEC report. The proposed program would support purchasing and deploying computing equipment powered by solar energy and Tesla Powerwall batteries. The transaction requires confirmatory due diligence and definitive agreements. OpenWorld said the final compliant structure would be defined at closing and cautioned that the transaction might not proceed.