QumulusAI stock surges on $240.9M Nvidia GPU contracts

Investing.com -- QumulusAI Inc (NASDAQ: QMLS) shares jumped nearly 15% in premarket trading Tuesday after the company announced $240.9 million in new three-year contracts for Nvidia Blackwell B300 GPUs.

The larger contract, valued at $211.9 million over three years, is with an AI inference platform that deploys large language models and other AI applications. This marks the customer's second agreement with QumulusAI, following a $71.9 million three-year contract announced July 28, 2026, bringing total commitments from this customer to more than $283 million. Capacity is targeted for delivery in early 2027.

The second contract, worth $29.1 million over three years, is with a generative-AI inference platform serving developers and enterprises. This follows a $32 million two-year agreement announced July 23, 2026, bringing this customer's total commitments to more than $61 million. Capacity is 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. The larger contract includes two one-year extension options valued at $70.6 million each, while the smaller contract has a two-year extension option valued at $19.4 million.

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.

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