AI cloud provider QumulusAI said it has crossed half a billion dollars in cumulative signed customer contracts after putting the final GPUs under a $71.9 million Blackwell agreement into production.
In an October 15, 2026, announcement, the Nasdaq-listed neocloud operator said it completed the final NVIDIA B300 handoff under the three-year Blackwell agreement, with every GPU now billing roughly ten weeks after signing. Together with agreements disclosed last month, cumulative signed contract value reached $523.4 million, up 85 percent from the $282.5 million reported in its second-quarter 2026 results, translating into about $209 million in annual recurring revenue on initial terms.
QumulusAI operates 11.75 megawatts of contracted capacity across six colocation sites; 7 MW are active and generating revenue today, a further 1 MW is scheduled for handoff at month-end, and 3.75 MW at its Atlanta site is targeted for activation in early 2027. The same customer has expanded its commitment to $283.8 million across two agreements.
Chief executive Michael Maniscalco said revenue follows handoff and 'the handoffs are happening now,' with all capacity under contract and a customer already signed for the next site.
Sources: Business Wire; Yahoo Finance UK.
