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All 11.75 MW of contracted capacity is sold: 7 MW billing today, 1 MW handing off at month-end, 3.75 MW coming online in early 2027;signed contracts represent about $209 million in annual recurring revenue
ATLANTA--(BUSINESS WIRE)--
QumulusAI (Nasdaq: QMLS), a neocloud infrastructure provider purpose-built for the AI computing era, today announced the completion of the final NVIDIA B300 handoff under its $71.9 million, three-year Blackwell agreement, putting every GPU under that agreement into production and billing 10 weeks after signing. The company also provided activation timing for all 11.75 MW of its contracted capacity across six colocation sites.
Of the 11.75 MW, 7 MW are active and generating revenue today. A further 1 MW, already energized, is scheduled for final handoff at the end of this month, bringing active, revenue-generating capacity to 8 MW. The remaining 3.75 MW at the metro Atlanta site, announced in August and sold last month under a $211.9 million, three-year take-or-pay agreement, is targeted for activation in early 2027. A second agreement, announced last month and valued at $29.1 million, will be deployed at an additional site.
With the $240.9 million in agreements announced last month, QumulusAI’s cumulative signed customer contract value has reached $523.4 million, surpassing $500 million for the first time and up 85% from the $282.5 million reported with the company’s second-quarter 2026 results.Combined, the agreements translate into about $209 million in annual recurring revenue on their initial terms, excluding extension options: about $128 million from the 8 MW active by month-end, about $71 million from the 3.75 MW in Atlanta and the balance from the $29.1 million agreement.
The company delivered the $71.9 million agreement in two deployments: B200 capacity on Sept. 8, followed by B300 capacity at its Kansas City site on Oct. 1. The same customer has already expanded its commitment: the $211.9 million agreement for the Atlanta capacity is its second with QumulusAI, bringing its contracted commitments to $283.8 million, excluding extension options.
“Crossing half a billion dollars in signed customer contracts is a milestone worth marking, and we got there by doing exactly what we said we would do: sign, deploy and expand,” said Michael Maniscalco, CEO of QumulusAI. “Our second-quarter revenue of $6.7 million reflected what we had deployed, not what we had sold. Revenue follows handoff, and the handoffs are happening now. All of our capacity is under contract, and we already have a customer signed for the next site, so our focus is on securing the next block.”
About QumulusAI
QumulusAI is a distributed AI cloud platform that delivers accelerated access to high-performance GPU compute. Through an inference-first, demand-led deployment model across a network of data center sites, QumulusAI brings compute closer to customer demand, helping AI teams and enterprises scale production AI workloads with speed, flexibility and control. By combining rapid deployment with flexible private cloud infrastructure, QumulusAI gives customers a faster, more adaptable path beyond the capacity constraints of traditional centralized and hyperscale cloud models. Learn more at QumulusAI.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the timing of the final handoff of the company’s remaining 1 MW of energized capacity and the resulting increase in active capacity to 8 MW, the activation of the remaining 3.75 MW of contracted capacity in early 2027, the deployment of capacity under the company’s $29.1 million agreement at an additional site, the annual recurring revenue the company’s signed customer agreements represent and the timing at which that revenue will be realized, the anticipated value and terms of the company’s signed customer contracts, the company’s ability to secure additional capacity Words such as “anticipate,” “believe,” “estimate,” “expect,” “guidance,” “intend,” “can,” “may,” “on track,” “plan,” “project,” “target,” “will” and similar expressions are intended to identify forward-looking statements. These statements are based on management’s current expectations and assumptions as of the date of this release and are subject to risks and uncertainties that could cause actual results to differ materially, including, among others, the company’s dependence on a limited number of large customers; the availability and cost of power, network connectivity and specialized hardware such as graphics processing units; the company’s substantial capital requirements and access to financing; competition and rapid technological change in the high-performance computing and AI markets; the company’s limited operating history and history of net losses; and those described in the “Risk Factors” section of the company’s registration statement on Form S-1, as amended (File No. 333-292514), and the company’s quarterly report on Form 10-Q for the quarter ended June 30, 2026, as amended, filed with the U.S. Securities and Exchange Commission (SEC), as such factors may be updated in the company’s subsequent filings with the SEC. QumulusAI undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law.
Annual recurring revenue is the predictable amount of money a company expects to earn each year from ongoing customer subscriptions or contracts. It helps businesses understand how much steady income they can count on, much like a subscription service that charges customers every month or year. This figure is important because it shows the company's stability and growth potential.
take-or-pay agreementfinancial
A take-or-pay agreement is a contract in which a buyer commits to either purchase a set minimum amount of goods or services from a supplier or, if they do not take that quantity, pay a predetermined penalty or fee instead. It matters to investors because it creates predictable revenue for the supplier and fixed-cost obligations or potential penalties for the buyer, affecting both firms’ cash flow, risk exposure, and the valuation of future earnings—like a subscription that must be paid for even if not fully used.
colocationtechnical
Colocation is the practice of placing a trader’s computer servers inside or next to an exchange’s data center so their orders travel the shortest possible distance to the exchange’s computers. For investors this matters because even tiny gains in speed can mean better trade prices or reduced slippage—like being first in line at a checkout—so firms that colocate can gain steady, measurable advantages or incur extra costs that affect returns.
gputechnical
A GPU (graphics processing unit) is a specialized computer chip designed to handle many calculations at once, originally for rendering images and video but now widely used for tasks like artificial intelligence, data analysis and high-performance computing. Investors watch GPU demand and prices because strong sales often signal growth for chip makers and their customers, affect profit margins and capital spending, and can forecast wider trends in gaming, AI adoption and cloud services.
