QumulusAI Stock Surges as Nvidia GPU Contracts Top $240M
QumulusAI Inc () shares experienced a sudden swing in early trading on Tuesday, initially surging 15% before losing 15% of those gains. The company's stock was boosted by the announcement of two new three-year contracts with AI inference customers totaling $240.9 million.
The agreements cover over 2,000 Nvidia Blackwell B300 GPUs and expand relationships established in July 2026. A larger contract worth $211.9 million over three years is with an AI inference platform that deploys large language models and other applications. This marks the customer's second agreement with QumulusAI, following a $71.9 million three-year contract announced on July 28, 2026.
The total contracted commitments from this customer now exceed $283 million. Capacity for the larger contract is targeted for delivery in early 2027, while a smaller contract worth $29.1 million over three years has capacity expected to be delivered in December 2026. Extension options could increase the total potential value of the new agreements to $401.6 million over five years.
CEO Michael Maniscalco said inference platforms are planning capacity years ahead and backing those plans with cash, allowing the company to place GPUs against signed contracts rather than forecasts.