Axe Compute Acquires Georgia AI GPU Cluster, Repaying $87.8M Debt in Non-Dilutive Deal

Axe Compute Inc. (AGPU) has acquired full ownership of the special purpose vehicle (SPV) that owns its Georgia AI Cluster from Duos Technologies Group, Inc. The transaction, which closed on September 30, 2026, was non-dilutive and involved repaying the SPV's debt. In connection with the acquisition, the associated AI cluster customer agreement was extended from three to five years, now expected to generate approximately $364.6 million in revenue over its life.

Key Details

• Asset Acquired: 100% of the SPV owning an AI cluster consisting of 288 servers with 2,304 GPUs.
• Financial Consideration: The company repaid the SPV's pre-existing debt of approximately $87.8 million and agreed to a deferred purchase price of $42.9 million, payable to Duos in monthly installments of $715,000 for 60 months.
• Extended Customer Contract: The underlying customer agreement for the AI cluster was extended to a five-year term, running through 2031.
• Closing Date: The acquisition closed on September 30, 2026.