Investing.com -- Datavault AI has signed over $800 million in tokenization contracts and secured $120 million in non-dilutive funding to accelerate the rollout of its quantum-ready edge computing platform, with the company revealing a surge in first-quarter revenue on Friday.

The Philadelphia-based firm, which trades on the Nasdaq under the ticker DVLT, reported first-quarter 2026 revenue of $3.4 million, a 443% year-over-year increase, and reiterated its full-year revenue target of at least $200 million, representing projected growth of approximately 400% year-over-year.

Gross profit for the three months ended March 31, 2026, was $0.1 million.

Nearly $100 million in fees from tokenization contracts are expected to be recognized in 2026.

The $120 million funding commitment, structured as a cash contribution and revenue participation agreement with Scilex Holding Company, will be used to deploy Datavault AI's SanQtum AI infrastructure across an estimated 100 U.S. cities, supporting a planned fleet of approximately 48,000 graphics processing units.

The company launched its first GPU edge network sites in New York and Philadelphia in April through a partnership with Available Infrastructure. A $60 million registered direct offering has also strengthened the balance sheet, bringing working capital to approximately $140 million.

Chief Executive Nathaniel Bradley said the company is "not simply participating in the evolution of AI and tokenized economies," describing Datavault AI's platform as foundational infrastructure designed to power them.

In addition to infrastructure expansion, the company announced in May a binding letter of intent to acquire CyberCatch Holdings in an all-stock transaction, integrating AI-driven cybersecurity and quantum-resistant capabilities into its platform. A $150 million GoldVault tokenization program backed by King Mining Capital's gold resources was also announced in April.

Chairman and Chief Financial Officer Brett Moyer said the $120 million funding commitment "validates the long-term strategic vision behind SanQtum," positioning the company as a key infrastructure provider for the emerging data economy.