XMAX signs five-year GPU computing contract with DSH Hyper worth $122.5 mln

XMAX also forecasts more than $100 mln of revenue from its own businesses over the five years, but the commitment still needs board approval and a letter of credit before it is final.

XMAX has signed a five-year GPU computing contract with DSH Hyper worth $122.5 mln. Spread evenly over the term, that is $24.5 mln a year.

The company's release on Monday adds a forecast of its own. Management expects its NeoCloud and AI Token Factory businesses to bring in more than $100 mln in cumulative revenue over the five years. That is management's projection for its own services and is separate from the contract value.

The scale matters because of what XMAX is. It describes itself as a distributor of contemporary furniture and an AI software and platform-based service provider, and its latest 10-Q shows a private placement of 8.55 million shares at $3.64 each, raising $31.122 mln.

Service began on October 29 with 480 GPUs, the release says, and the full 512 Nvidia Blackwell Ultra B300 GPUs are due to follow in phases. But the five-year commitment is not yet final. It requires approval by XMAX's board and delivery of a security guarantee and a standby letter of credit in favour of kt cloud by November 17.