QumulusAI Crosses $500M in Signed Contracts as $71.9M Blackwell Deal Goes Live
QMLS is trading near its 52-week low of $3.7 (2.7% below the low).
Summary
QumulusAI finished the final B300 handoff under its $71.9M three-year Blackwell agreement, putting all GPUs into production and billing just 10 weeks after signing. Cumulative signed customer contract value hit $523.4M, up 85% from the $282.5M disclosed with Q2 results, translating to roughly $209M in annual recurring revenue on initial terms. Of 11.75 MW contracted across six sites, 7 MW is revenue-generating today, 8 MW by month-end, with the 3.75 MW Atlanta block (sold under a $211.9M take-or-pay deal) targeted for early 2027. The gap between Q2's $6.7M revenue and the contracted backlog is the whole story here: revenue follows handoff, and handoffs are now happening. Watch the next 10-Q for whether recognized revenue starts tracking the $128M ARR tied to the 8 MW active by month-end.
At the time of this announcement, QMLS was trading at $3.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $125.1M. The 52-week trading range was $3.70 to $38.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.