Allied Gaming & Entertainment Announces Proposed Rebranding to “AI & FutureTech Alliance Limited (AIFA)” and Plans for Hainan Silicon Photonics AI Supercomputing Center, Supported by Convertible Notes Financing plan to Build a Global Optical Compute Network Platform

NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) -- Allied Gaming & Entertainment Inc. (NASDAQ: AGAE) (the “Company”) today announced that its Board of Directors has approved a proposal to change the Company's corporate name to "AI & FutureTech Alliance Limited," with a proposed corresponding ticker symbol change to "AIFA," and has commenced development planning for an artificial intelligence infrastructure project in the Hainan Free Trade Port — the AIFA Silicon Photonics AI Supercomputing Center — part of the Company's strategic direction along with future mergers, acquisitions, and development of global optical network infrastructure. Both the proposed name change and the infrastructure project are subject to significant conditions, including shareholder approval, regulatory filings, financing, and other requirements described below.