QumulusAI completes $71.9M Nvidia Blackwell handoff, contracts reach $523M

QumulusAI (QMLS) completed the final Nvidia B300 handoff under its $71.9M, three-year agreement, putting all GPUs under the contract into production and billing 10 weeks after signing.

The company said 7 MW of its 11.75 MW contracted capacity is active and generating revenue, with another 1 MW expected to come online by month-end and the remaining 3.75 MW targeted for early 2027.

QumulusAI’s cumulative signed customer contract value has reached $523.4M, up 85% from $282.5M reported with its Q2 2026 results. The agreements represent approximately $209M in annual recurring revenue over their initial terms, 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.”

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