AI Compute Cloud & Neoclouds

IREN's fair value estimate has been trimmed from US$80.93 to US$79.03, a modest adjustment reflecting a mix of growing AI cloud contracts and ongoing questions around execution and supply build out through 2027. The revision lifts revenue growth assumptions to 168.01% from 125.79% and net profit margin expectations to 11.73% from 5.79%, while the future P/E assumption drops to 31.26x from 90.29x and the discount rate rises to 9.41% from 8.83%. On the bullish side, JPMorgan shifted IREN from Underweight to Overweight with a US$65 price target, citing a partnership with Nvidia, new customer signings and higher industry pricing, while H.C. Wainwright raised its target to US$90 after IREN announced US$2.8b of new multi year AI cloud contracts and lifted its 2026 AI cloud annual recurring revenue target to more than US$4b. Northland initiated IREN at Outperform with a US$99 price target, and Freedom Capital upgraded the stock from Hold to Buy. Freedom Capital nonetheless flagged execution on supply additions over the next two years as a central risk, noting the story depends heavily on adding capacity on schedule.

Nscale, the London-based AI data center developer backed by Nvidia and Microsoft, filed publicly for an initial public offering in New York, seeking to raise as much as $3 billion. The company reported a net loss of $1.02 billion on revenue of $140.6 million for the six months ended June 30, compared with a net loss of $368.9 million on revenue of $10.4 million a year earlier, according to its Friday filing with the US Securities and Exchange Commission. Spun off from a cryptocurrency mining operation in early 2024, Nscale was valued at about $14.6 billion in a March Series C round led by Aker ASA and 8090 Industries, with Nvidia and Nokia Oyj also participating. The company has agreed to add more than 30,000 Nvidia chips to an existing rental agreement with Microsoft at its Narvik, Norway gigafactory, and Anthropic has agreed to spend $45 billion to rent AI cloud computing power from its flagship West Virginia data center development. The offering is being led by Goldman Sachs, JPMorgan Chase and Morgan Stanley, with shares expected to trade on the New York Stock Exchange under the symbol NSCL.

Manus is in advanced discussions for a $500 million funding round at a $4 billion valuation, according to Bloomberg, following Beijing's NDRC blocking of Meta's $2 billion acquisition of the firm in April 2026. Co-founders Xiao Hong and Ji Yichao were summoned and barred from leaving China, forcing the company to pivot from a potential US acquisition target into a cornerstone of the domestic Chinese AI ecosystem, though the round is not yet closed and terms remain subject to change. In Seoul, Enhans, which raised a $38 million Series C confirmed in a September 17, 2026 press release, is embedding its AgentOS into Korean manufacturing and finance, with the round co-led by TIMEFOLIO Asset Management and Stonebridge Ventures and strategic participation from POSCO Investment, LG CNS, and Lotte Ventures, whose chaebol groups already run the technology in live production. Huawei, meanwhile, launched its AI Cluster Service and agent-specific tools including Agentic MaaS and the AgentArts platform at HUAWEI CONNECT 2026, with Dr. Peter Zhou emphasizing that infrastructure must evolve to support secure, reliable agent workloads in production; the Agentic Infra paradigm already serves over 3,500 customers, and while AICS is available in China starting September 30, global availability is not slated until November 30. Together these moves signal that the agent market is splitting along regional lines of data structuring, compute hosting, and regulatory oversight, leaving open whether these silos will converge through open standards or harden into permanent, incompatible zones.

Northland Capital initiated coverage of IREN Ltd. at Outperform with a $99 price target, implying more than 100% upside from the prior close, and the stock rose 1.82% premarket on the call. The bullish initiation adds to an analyst base already skewed positive, with 14 buy ratings and three holds before today. The move follows JPMorgan's September 14 upgrade of IREN two notches from Underweight to Overweight with a $65 target, citing its Nvidia cloud partnership and neocloud pricing power. IREN has retired lower-margin Bitcoin mining hardware to redirect power toward AI compute, taking a large non-cash impairment in its fiscal 2026 results while lifting its contracted annual recurring revenue target to $4 billion for 2026.

Amazon Web Services posted $42.23 billion in revenue, growing 37% year over year, the segment's fastest growth in 18 quarters, with a 39.4% operating margin and a $496 billion contracted backlog. Amazon's chips and AI businesses each eclipsed run rates of more than $25 billion in the second quarter, both growing at triple-digit percentages year over year, while 98% of Amazon's top 1,000 EC2 customers use Graviton and Anthropic and OpenAI have made multi-year, multi-gigawatt commitments to Trainium. Q2 operating income landed at $27.46 billion, up 43.2% year over year, and advertising is a $70 billion-plus trailing-twelve-month business growing 26%. Capex reached $54.21 billion in a single quarter, up 68.4% year over year, and free cash flow swung to negative $7.6 billion on a trailing-twelve-month basis, though most AI capacity is contracted for at least five-year terms. Since Amazon reported Q2 on July 30, 2026, AMZN moved from $230.08 to $251.19, while SPY went from $747.03 to $762.70 and QQQ went from $687.99 to $716.92. Andy Jassy said AWS could become a few hundred billion dollar revenue business and now believes it will be at least double that and very possibly a trillion dollar annual revenue business in time.

CleanSpark has signed a 20-year, $6.6 billion triple-net lease for its Sandersville, Georgia, site, a deal the company expects to generate $330 million in annual revenue. Chairman and CEO Matt Schultz said the site includes a fully energized 250-megawatt substation, that CleanSpark secured an additional 122 acres with community support, and that the tenant received short-term exclusivity for up to 885 additional megawatts in Texas, with the first data hall targeted for delivery in December 2027. The announcement came during an H.C. Wainwright panel where mining and AI infrastructure executives described a broad pivot from bitcoin operations toward AI colocation, cloud services and GPU-as-a-service. Core Scientific's Russell Cann said direct-liquid-cooled construction costs have climbed from roughly $4.5 million per megawatt for early projects to about $10 million to $10.5 million per megawatt for facilities turned on this year and $12 million to $13 million per megawatt for projects expected to start operating in 2027. Cann also said Core Scientific recently announced a roughly 500-megawatt agreement with AMD, with AMD holding rights to the next 2,000 megawatts across sites in Hunt County and Pecos, Texas, and Muskogee, Oklahoma, under a 15-year triple-net lease at $125 per megawatt or a modified gross structure at $145 per megawatt. Executives pushed back on AI bubble concerns, with Cann noting roughly 5 gigawatts of rack space is delivered annually against approximately 15 gigawatts of annual chip demand, while cautioning that many power requests may be duplicative or unsupported by actual transmission, substations or fuel supply.

CoreWeave exited the second quarter of 2026 with $104.2 billion in revenue backlog, up 246% year over year, a figure that excludes more than $25 billion of net new customer commitments added in the early weeks of the third quarter. Management said more than half of the existing backlog was already tied to contracts where customer delivery had begun, and expects that proportion to exceed two-thirds of the second-quarter backlog by year-end. Quarterly revenues surged $2.6 billion, up 112% year over year, while adjusted operating income rose sequentially to $128 million, prompting the company to raise its 2026 revenue guidance to $12.4-$13.2 billion and adjusted operating income guidance to $960 million to $1.15 billion. CoreWeave also lifted its expected year-end annualized run-rate revenues to $18.5-$19.5 billion, citing the long-term nature and attractive margins of contracted backlog. Supporting that backlog is capital-intensive buildout: capex was $9.4 billion, construction in progress rose sequentially to $11.9 billion, operating expenses reached $2.6 billion including $165 million in stock-based compensation, and interest expense hit $640 million versus $267 million a year earlier, with interest expense expected to climb to $860-$940 million in the current quarter. At the end of the second quarter CoreWeave had 1.5 gigawatts of active power after adding nearly 500 megawatts during the quarter, plus 3.7 gigawatts of contracted power, which management said has since risen to 4.2 gigawatts toward a goal of at least 8 gigawatts by 2030, while competition intensifies from Nebius and Microsoft.

Xeal launched Laitent, which it calls the world's first edge inference compute network using idle EV charging capacity, tapping more than 200MW of permitted, installed electrical infrastructure across 1,600+ properties. Xeal, a member of NVIDIA Inception, plans to deploy over 100,000 NVIDIA GPUs alongside EV charging infrastructure, and has secured partnerships with Rafay Systems for AI infrastructure orchestration, Spectrum Business for dedicated enterprise-grade fiber, dozens of real estate and property managers, and a Tier 1 inference provider for up to 5MW of compute. The first Laitent Pod will be brought online with partner JVM Realty by the end of 2026. Each Laitent Pod is about the size of one parking space, contains up to 48 NVIDIA Hopper or Blackwell Ultra GPUs, requires no water hookup, and runs quiet at less than 65 decibels, offering sub-20ms latency in metro areas. Xeal said EV charging sites typically operate at less than 10% of permitted capacity, and it taps the remaining 90% for compute, with property owners able to add as much as $1m in property value for little-to-no upfront investment. Looking beyond the initial 200MW of installed charging capacity, Xeal plans to unlock over 1GW of existing headroom across real estate and EV charging deployments.

CoreWeave announced the pricing of its private offering of $3.7B aggregate principal amount of 2.875% convertible senior notes due 2033, upsized from the previously announced $3B aggregate principal amount. The issuance and sale of the notes are scheduled to settle on September 22, 2026, and the notes will mature on April 1, 2033, unless earlier repurchased, redeemed or converted. The initial conversion rate will be 10.2194 shares of CoreWeave's Class A common stock per $1,000 principal amount of notes, representing an initial conversion price of approximately $97.85 per share.

Nvidia CEO Jensen Huang said demand for artificial intelligence computing is accelerating, describing the resulting investment cycle as a flywheel that is "really, really flying." Speaking with CNBC's Jim Cramer at Dreamforce in San Francisco, Huang estimated that a 1-gigawatt Nvidia AI factory costs about $50 billion to $60 billion to build but can generate roughly $50 billion in annual rental revenue, implying a return on invested capital of about one year. He said token generation has increased 25-fold in less than a year, with open models now accounting for nearly 70% of generated tokens, up from about 30%. Huang also said Nvidia Grace Blackwell systems now rent for about $16 per GPU hour, versus roughly $5 under some contracts signed a year ago, and he expects AI testing to become a third major category of infrastructure alongside training and inference, requiring additional data centers.

DigitalOcean Holdings secured a $725 million equipment finance facility on September 10 to fund the GPU and CPU capacity its AI-Native Cloud business needs, sending the stock up 7.45%. The facility, arranged with MUFG Bank as lead administrative and collateral agent alongside Axos Bank, BMO Bank and Wells Fargo as joint lead arrangers and PNC Bank as document agent, matures on September 10, 2030, and carries an accordion option for another $300 million. CFO Matt Steinfort described the financing as a way to align cash outflows with revenue at an attractive cost of capital, raised from a position of strength. The move follows second-quarter results reported on August 4, when DigitalOcean posted revenue growth of 29% year over year and raised its full-year outlook on accelerating AI demand. Remaining performance obligations reached $894 million in the second quarter, up twelvefold from a year earlier, while AI customer ARR grew 212% year over year and customers spending $500,000 or more grew their revenue contribution 160%. The expansion has come at a cost: operating income fell 18%, operating margin slipped to 10%, net income dropped 4% to $35 million, and adjusted free cash flow margin narrowed from 26% to 22%.

Yuanta Securities said AI Capex investment is likely to keep expanding over the next one to two years. Although elevated US bond yields will remain a drag, growth in Enterprise AI that is driving cloud and compute demand will offset it. Returns on GPU leasing investment remain high, with payback within 2.2 to 3.1 years, and hyperscalers have the financial strength to invest at least another 2 trillion US dollars in AI infrastructure. The Data Center industry in the APAC region is set to grow at a 25.2% CAGR in 2025 to 2030, the second fastest in the world after North America at 26.8% CAGR, and excluding China it can still grow at 22.9% CAGR. Thailand stands to benefit from its infrastructure readiness and geopolitical neutrality, while the Thai economy is starting to see positive effects through AI-related exports and continued growth in FDI. Thai stocks that Yuanta sees as likely to outperform the market under this theme are divided into the AI Export group, namely DELTA, HANA, SMT and EPG, and the AI and Data Center Deployment group, namely GULF, GUNKUL, AMATA, WHA, STECON, BBL and SCB, for a total of 11 stocks. Foreign companies that stand to benefit include NVDA19, GOOGL19, AMZN19, LITE80, MRVL80, BE80, JPMUS19 and GSUS06, for a total of 8 DRs.

Crusoe said Thursday it raised $3.9 billion in a Series F round that pushes its valuation to $30.9 billion. The round was co-led by Atreides Management, Mubadala Capital, and Valor Equity Partners, with Founders Fund, GIC, Nvidia, Qatar Investment Authority, Radical Ventures, and TPG also participating. Crusoe also announced three new board members: Cloudflare CFO Thomas Seifert, Bill Stein, partner and CIO at Primary Digital Infrastructure, and Redwood Materials founder and CEO JB Straubel, who also sits on Tesla's board. The fresh capital will help finance existing data center projects, including a large site in Abilene, Texas, used by OpenAI, as well as smaller, modular AI factories called Spark that can be transported by truck and connected to large power sources almost anywhere. The raise comes 10 months after Crusoe raised $1.38 billion at a $10 billion valuation last October, and follows a reported $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure.

Nebius Group has raised prices for its Nvidia GPU and AMD CPU cloud services, citing surging enterprise interest in large-scale AI training and inference workloads. The higher rates apply to both Nvidia GPU instances and AMD CPU based compute bundles across the company's AI focused cloud offerings, with the price change taking effect on October 1. The company said the move reflects strong AI workloads filling its infrastructure and tight supply of high end chips such as Nvidia H100 and B300, and that steeper rates on GPUs and AMD EPYC Genoa CPUs help align customer bills with the cost of scarce compute capacity and large data center buildouts. Nebius Group builds full stack infrastructure for AI developers and enterprises across the US, the UK, and other markets, so the pricing directly shapes what customers pay to train and run models at scale. Investors will watch upcoming quarterly updates for the AI cloud revenue mix and Palantir related usage, since stable or growing GPU utilization at the new rates would show the higher pricing is being absorbed rather than pushing workloads to rival providers.

Oracle expanded its fiscal-2026 restructuring plan to roughly $2.8 billion as the company pours more capital into AI infrastructure, Reuters reported. The shares rallied about 5.4% to $150.90 Thursday morning, based on the latest market snapshot, versus the earlier $148.83 quote. That $2.8 billion restructuring bill works out to roughly 14.5% of Oracle's latest $19.35 billion in quarterly revenue and covers severance, contract exits and other restructuring costs, while free cash flow is running at approximately negative $5.4 billion. Remaining performance obligations have climbed to $664 billion after Oracle signed more than $30 billion of additional AI-cloud contracts, with roughly half of that backlog expected to turn into revenue within 36 months. Management says customer prepayments and customer-supplied chips can soften the capital burden, but the real test is execution.

Oracle shares trade at $147.17 even after a fiscal Q1 2027 earnings report that saw revenue hit $19.345 billion, up 29.6% year over year, non-GAAP EPS of $1.92 against a $1.74 estimate, and cloud infrastructure growth of 121%. Remaining performance obligations swelled to $664 billion, with more than $30 billion in new AI contracts booked in the quarter alone, yet the stock has fallen 8.95% over the past week as the market focuses on negative $5.396 billion quarterly free cash flow and a $28.499 billion capex bill. 24/7 Wall St. maintains a buy rating and a $214.69 price target, implying roughly 50% upside, with 90% confidence, citing a forward P/E of 17 that is cheaper than Microsoft at 26 and Alphabet at 22. The bear case centers on FY26 free cash flow of negative $23.686 billion, interest expense up 55% to $1.4 billion, and full-year FY27 capex guidance of $90 to $95 billion, which could force another equity raise beyond the completed $20 billion ATM program. Half of the $664 billion RPO is expected to convert to revenue over the next 36 months, and management guided full fiscal 2027 revenue to at least $90 billion with non-GAAP EPS of $8.10.

CoreWeave deployed multi-rack NVIDIA Vera Rubin NVL72 clusters on CoreWeave Cloud on Wednesday, moving the architecture from validation toward broader availability. CoreWeave had already become the first cloud provider to bring up and validate NVIDIA's Vera Rubin NVL72, and in August it won a multi-year agreement with Hudson River Trading to build its next-generation AI research and model-development platform using Vera Rubin NVL72 and Spectrum-X Ethernet. NVIDIA says Rubin is in full production and is designed for training and inference. CoreWeave said AI products and services beyond GPUs, including storage, CPU, networking and software, exceeded $400 million of annual recurring revenue in the second quarter, while booked annual recurring revenue for managed inference rose from $1 million to more than $100 million within months of launch. Active power exceeded 1.5 gigawatts in the second quarter and contracted power reached about 4.2 gigawatts by Aug. 11, with CoreWeave targeting more than 1.85 gigawatts of active power by year-end 2026 and at least 8 gigawatts by 2030, against expected 2026 capital expenditures of $35-$39 billion and second-quarter net interest expense of $640 million.

Nvidia CEO Jensen Huang confirmed at a Scotland tech gathering that the company's chip sales in 2027 are projected to roughly double from 2026, echoing management's August 26, 2026 earnings call guidance for about 70% revenue growth in fiscal 2028. The doubling is being driven by the Vera Rubin platform, which entered full production alongside continued Blackwell deployment and is expected to be the fastest product ramp in Nvidia's history, with per-gigawatt revenue opportunity rising to roughly $40 billion from $25 billion on Blackwell. Nvidia's supply obligations swelled to $279.0 billion, largely tied to memory procurement for Vera Rubin, while guarantee obligations for AI cloud partners are capped at $108.5 billion and financing platforms with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs, and KKR are expected to mobilize over $500 billion of third-party capital for AI infrastructure. Sovereign and enterprise AI is growing 100% a year, with sovereign AI revenue up 35% sequentially and more than tripling year over year, and neocloud partners expected to exit the year with eight gigawatts of installed capacity versus roughly three gigawatts at the end of 2025. Consensus EPS for the fiscal year ending January 2028 has climbed from $12.67 ninety days ago to $15.57 today, with 39 upward revisions in the past 30 days and zero cuts, on revenue now pegged at roughly $678 billion.

Amazon chief Andy Jassy said on the company's recent earnings call that he now believes Amazon Web Services could become at least a few hundred billion-dollar revenue business, and very possibly a trillion-dollar annual revenue business in time. The prediction stands out against AWS' current $169 billion annual revenue run rate, and against the $58 million annual revenue run rate AWS reached three years after launch. AWS' AI revenue run rate, roughly three years into the AI boom, now totals more than $25 billion. Amazon said it plans to spend $220 billion this year, up from an earlier forecast of $200 billion, and that even at that level it won't be able to fulfill all of the demand this year and next year. The article was originally published by The Motley Fool.

ENGIE North America announced renewable energy supply agreements that will provide up to 568 MW of renewable electricity for Oracle's growing operations in Texas. The power will come from a portfolio of wind energy resources serving the Electric Reliability Council of Texas market, part of ENGIE's roughly 12 GW of new renewable generation and battery storage capacity built across North America over the past six years. Anne-Laure Chassanite, Interim CEO of ENGIE North America, said the agreements reflect the strength of the company's portfolio and its ability to deliver customized energy solutions for customers expanding in Texas. Julia Robin, Head of Infrastructure Planning and Sourcing for Oracle Cloud Infrastructure, said the deals advance Oracle's goal to match 100 percent of its AI data center electricity use with carbon-free electricity by 2035 without shifting costs to Texas consumers. ENGIE North America, based in Houston, has approximately 12 GW of power generation in operation or under construction across North America, representing $11 billion of capital employed.

Generac shares surged 31% after the company and Amazon executed a long-term supply agreement for backup generators for Amazon's data centers, a deal worth up to $8 billion that includes initial deliveries totaling $2.4 billion in 2027 and 2028 and warrants allowing an Amazon subsidiary to buy Generac shares through 2033. CoreWeave kicked off a fresh round of fundraising that includes a $3 billion convertible bond issue and an at-the-market offering program allowing it to sell as many as 35 million shares from time to time, saying the program will provide financing flexibility and help migrate its credit profile toward investment grade. Lockheed Martin moved on news that the Pentagon and the company struck a framework agreement for a multi-year production contract for the Joint Advanced Tactical Missile, or JATM, which is still in development but close to entering production and would become the most advanced air-to-air missile in the US arsenal, a role long held by RTX's advanced medium range air-to-air missile since 1993; the new missile program is receiving a $2 billion boost in the Trump administration's proposed budget for the fiscal year starting October 1. Boeing faces hard months ahead as CEO Kelly Ortberg and the CFO laid out challenges that surprised investors, including additional testing for the 777X that will spill into next year and a more muted cash outlook.

Crux AI, the cloud venture backed by Google and Blackstone, has secured $22 billion in debt financing to buy Google-developed Tensor Processing Units, according to Bloomberg. Ten banks are reportedly providing the financing, including Goldman Sachs, Barclays, BNP Paribas and Bank of Nova Scotia, with the debt backed partly by the value of Google's TPUs and partly by customer contracts signed by Crux AI. Blackstone has separately committed an initial $5 billion in equity. Crux AI plans to bring its first 500 megawatts of data-center capacity online in 2027, a test of whether customers will adopt Google's chips on a much larger scale outside Google's own ecosystem. The $22 billion solves part of the funding problem, and investors will be watching how quickly Crux AI fills that first 500 megawatts.

Alphabet's Google Cloud revenue grew 82% to $24.8 billion in the second quarter, with backlog jumping more than $50 billion sequentially to $514 billion, a figure larger than Alphabet's entire fiscal 2025 revenue base. The company's Q2 2026 results showed EPS of $9.11 against a $3.04 consensus, revenue of $119.8 billion up 24.23% year over year, and operating margin expanding to 34%, while cloud growth accelerated from 48% in Q4 2025 to 63% in Q1 2026 and 82% in Q2 2026. 24/7 Wall St. maintains a buy recommendation on Alphabet with a price target of $504.76, implying 50.47% upside from a current price of $335.45, and a model confidence of 90%. The bull case targets $569.14, citing that nearly 90% of the Fortune 100 use Gemini Enterprise, Gemini App has 950 million monthly active users, and model APIs process 22 billion tokens per minute, up from 16 billion a quarter ago. Risks include Q2 capex of $44.9 billion doubling year over year, free cash flow swinging negative to -$5.86 billion, long-term debt roughly doubling from $46.5 billion to $98.2 billion, and suspended buybacks, though cloud operating income more than tripled to $8.8 billion with margins climbing to 35.6%.

CoreWeave is expanding its capabilities for next-generation AI workloads with the deployment of multi-rack NVIDIA Vera Rubin NVL72 clusters on CoreWeave Cloud, alongside two new capabilities for its AI Object Storage platform: cross-region write acceleration and a lower-cost Archive tier. The multi-rack Vera Rubin NVL72 deployment allows hundreds of NVIDIA Rubin GPUs to operate as a single scale-out cluster, with each NVL72 rack combining 72 Rubin GPUs with 36 Vera CPUs, NVIDIA NVLink 6, ConnectX-9 SuperNICs and BlueField-4 DPUs, connected across racks using NVIDIA Spectrum-X Ethernet networking and automated through CoreWeave's Mission Control platform. CoreWeave says its Local Object Transport Accelerator caches data locally and can reduce latency by up to 8x compared with traditional storage-cluster reads while delivering up to 7 GB/s of throughput per GPU, while the new cross-region write capability lets customers write data locally as CoreWeave replicates it to another region in the background. The company faces intensifying competition in the AI cloud market from Microsoft and Nebius Group N.V., which plans to invest £1.7 billion in U.K. AI infrastructure and expects connected power capacity to reach roughly 800 MW to 1 GW by 2026 end. CoreWeave shares have gained 24.4% year to date against the Internet Software industry's fall of 0.6%, and the Zacks Consensus Estimate for CRWV's earnings for the current year has been revised downward over the past 60 days.

Generac Holdings surged 33.7% in premarket trading after announcing a long-term agreement with Amazon to supply industrial backup generators for the technology giant's global data centers. The agreement calls for initial deliveries worth about $2.4 billion across 2027 and 2028, while the total value of the arrangement could reach as much as $8 billion. Amazon will also receive a warrant to purchase about 1.69 million Generac shares at an exercise price of approximately $200.93 per share, representing nearly 3% of the company's shares outstanding. Nebius Group NV rose 11.1% in pre-open trading after notifying customers of broad-based price increases across its on-demand GPU cloud services effective Oct. 1, with prices rising approximately 17% for H100 instances, roughly 21% for the latest Nvidia B300 GPU, and 25% for AMD EPYC Genoa CPU rates. BCB Bancorp fell 4.9% in premarket trading after pricing an underwritten public offering of 11 million common shares for gross proceeds of $85.25 million and disclosing it is marketing approximately $210 million of problem loans, while expecting a net loss of between $126.2 million and $136.1 million for the third quarter of 2026.

Hyperscale Data said it has invested more than $70M in Alliance Cloud Services and its Michigan AI data center, with operations under a previously announced master services agreement expected to begin in November 2026. The investment has funded a substantial portion of the capital needed to prepare the facility for an initial 20 MW AI compute deployment to a California-based neocloud provider, and the company said it has acquired a substantial amount of the equipment needed to bring the contracted capacity online. The agreement covers an initial 20 megawatts of critical AI compute capacity for 10 years, with two five-year extension options, and if maintained for the full 20-year term is expected to generate more than $1.2B in revenue. The customer can expand the deployment to 52 MW, which could generate more than $3B in revenue over 20 years, while the Michigan facility has about 340 MW of potential capacity, leaving about 270 MW for future customers after a full 52 MW deployment. The stock price scaled about 4.4% on Thursday during pre-market trade.

GMI Cloud, a partner of Nvidia, is seeking a $300M loan to buy chips for its facility in Thailand, according to Bloomberg. The US-based data center operator has approached banks and private credit funds for the self-arranged financing, which would pay yields in the low-teens. Proceeds would fund chip purchases for GMI Cloud's facility, housed in ST Telemedia Global Data Centres' site in Thailand, with Tencent named as the user of the chips. The deal adds to a growing list of similar arrangements in Asia.

Nvidia is increasingly acting as what Chamath Palihapitiya called the "bank of AI," working across suppliers, infrastructure providers and financing partners to clear bottlenecks before they constrain AI deployment, Jensen Huang said at the All-In Summit. Huang described AI as a "new industrial revolution" that requires manufacturing, electricity, internet infrastructure and physical data-center capacity to scale together, not just GPUs. He said roughly $400 billion in venture financing flowed into AI companies over six months, creating jobs and massive demand for compute, which in turn drives demand for data centers. Nvidia has increasingly worked with financial institutions and other ecosystem players to make AI compute an investable, financeable asset, a strategy that turns the company into an ecosystem enabler: help customers secure capital, power and infrastructure, and Nvidia keeps supplying the computing engine underneath them. For investors, that could make Nvidia's AI opportunity considerably broader than its semiconductor market share, since the biggest constraint on AI spending may eventually be capital and infrastructure rather than demand for GPUs.

Palantir Technologies and Nebius Group announced a partnership on 8 September 2026 making Nebius Palantir's preferred sovereign AI infrastructure provider, integrating Nebius' AI-native cloud and inference endpoints into Palantir's commercial perimeter to give eligible customers more control over compute, data, and models. The alliance positions Nebius as an AI-first cloud platform built for demanding AI workloads and could broaden its reach through Palantir's enterprise distribution and modular data-center deployments. The news comes alongside Nebius' first senior secured debt facility of about US$775.0 million, backed by GPU assets and contracted cash flows, underscoring how the company is funding and filling significant new capacity. Nebius Group's narrative projects $30.3 billion revenue and $2.4 billion earnings by 2029, with a $312.67 fair value implying 49% upside to its current price, while some of the lowest ranked analysts had assumed heavy spending would keep Nebius unprofitable even with revenue reaching about US$19.1 billion by 2029. The Palantir deal strengthens Nebius' case as a sovereign AI provider and could reinforce near-term demand visibility, but it does not remove the key near-term risk around heavy capital spending and the company's ability to translate rapid revenue growth into sustainable margins.