Digi Power X Inc. (NASDAQ: DGXX) announced it signed a 24-month bare metal GPU rental agreement with SubQ AI worth approximately $19.6 million, marking the company's first contracted AI revenue.

The Miami-based AI infrastructure operator will provide exclusive access to NVIDIA Blackwell GPUs through its NeoCloudz platform starting May 15, 2026. The contract includes a $2.95 million upfront payment representing 15% of the total contract value.

Under the agreement, SubQ AI will receive dedicated access to latest-generation NVIDIA Blackwell GPUs with 192 GB HBM3e memory. The systems will operate on a bare metal basis at Digi Power X's AI data center, which features redundant utility feeds and cooling architecture designed for high-density computing.

"This agreement with SubQ AI represents a major milestone for Digi Power X - our first contracted AI revenue and the official commercial launch of our NeoCloudz bare metal GPU-as-a-Service platform," said Alec Amar, president of Digi Power X.

SubQ AI CEO Justin Dangel stated the deployment represents "the first step in what we expect to be a much larger, long-term relationship with Digi Power X." He noted SubQ's roadmap calls for scaling to several thousand GPUs over the next few quarters.

The contract is structured as a fully dedicated deployment, giving SubQ root-level control and exclusive use of the contracted GPU fleet. Monthly invoicing will be payable within 15 days.

Digi Power X operates approximately 400 MW of secured power across sites in Alabama, New York, and North Carolina. The company has secured capacity for 10 infrastructure pods representing approximately 4,000 NVIDIA Blackwell B300 GPUs.