Neocloud Axe Compute has secured a $1.5 billion compute capacity agreement with an unnamed customer.

The contract will run for five years and see Axe deploying a cluster of 9,200 Nvidia B300 GPUs in the US. The cluster will be owned and operated by Axe Compute and leased to the customer.

This brings Axe Compute's total 2026 contract value to more than $3 billion. Axe expects to receive more than $534 million in aggregate prepayments in the next month from this contract and others announced earlier this month.

The company will pair the pre-payments with project-level financing to fund its remaining buildouts. Revenue for the company will start being generated this month, increasing as further deployments come online.

“Our largest deployments come with significant up-front prepayments, which allow us to secure project-level financing that reduces our reliance on equity financing," said Christopher Miglino, CEO of Axe Compute. "This agreement adds another major contracted deployment to our Axe Build portfolio and brings our total signed contract value for 2026 to more than $3 billion, nearly double where we stood earlier this year. We are focused on continuing that pace through the end of 2026 and into 2027."

Axe Compute is headquartered in Pittsburgh, Pennsylvania. The company has had various identities over the years. Its earliest SEC filings state the company was previously known as Skyline Medical, offering a system for the collection and disposal of infectious fluids from surgical procedures.

In 2018, it rebranded as Precision Therapeutics, acquiring a 25 percent stake in a company called Helomics, adding precision medicine and big data operations to the company's offering. By 2020, the company had rebranded again as Predictive Oncology, now describing itself as a "knowledge-driven company focused on applying artificial intelligence to support the development of optimal cancer therapies."

In December 2025, Predictive Oncology filed to change its name to Axe Compute.

Axe Compute's first annual report was published in March 2026, with the company stating that it had decided to expand its business strategy to include a compute business. “Through a distributed network model, Axe Compute seeks to provide customers with access to graphics processing unit compute capacity for artificial intelligence and other high-performance computing workloads, sourced primarily through infrastructure made available by the Aethir network.

Aethir is a Web3 provider of GPUs for AI and cloud gaming, running on other companies’ underutilized GPU capacity. It is also a cryptocurrency known as ATH. According to Axe Compute, its “treasury strategy” is focused on ATH, and intends to “bring value to its stockholders” by using debt and equity to purchase ATH. By doing so, the company can accrue “ unrealized gains or losses from any appreciation or depreciation” of the value of an ATH token.

According to the annual report, the company operates with “an asset-light model—we do not own or operate physical data centers—which allows us to scale compute capacity in response to customer demand without material capital expenditure.”

“Revenue from Compute Services is generated primarily through reserved GPU capacity contracts, under which customers commit to capacity on a prepaid basis, typically under 12- to 36 -month terms. Pricing is structured on a per-GPU per-hour basis and is positioned competitively relative to centralized hyperscale cloud providers. We also offer ancillary storage and CPU services billed alongside GPU compute under the same contractual arrangements.”

This strategy, however, has since shifted, with the latest customer agreements calling for Axe to deploy a “dedicated AI infrastructure cluster.”

An 8K filing from June lists some of the risk factors associated with this pivot, including noting that it will be more capital intensive for Axe Compute, and that owning the infrastructure brings risks surrounding its life span and depreciation.

Axe also notes that its “largest contract to date” as of the June filing is located in a single data center, making up 4.8MW of dedicated power, leading to operational risks, and that for the foreseeable future, the company’s revenue will be concentrated among a small number of customers and contractors.

According to Axe Compute’s Q1 2026 results, released in May 2026, the company brought in revenue of $35,000, down from $110,000 the year before. Of that, only $7,000 came from compute.

The company notes that this should improve, with it targeting a customer deployment in Q3 2026 that, once live, will generate $21m per quarter in revenue.

Total operating costs were $3.5m for the quarter, and the company saw a net loss of $7.7m.